Should You Invest in Repligen Corporation (RGEN)?
Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 6.01% compared to a 4.72% decline for the Russell 3000 Health Care Index. The fund’s underperformance in the quarter was attributed to poor stock selection. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds highlighted stocks like Repligen Corporation (NASDAQ:RGEN) in the third quarter 2022 investor letter. Headquartered in Waltham, Massachusetts, Repligen Corporation (NASDAQ:RGEN) is a bioprocessing company. On October 17, 2022, Repligen Corporation (NASDAQ:RGEN) stock closed at $204.65 per share. One-month return of Repligen Corporation (NASDAQ:RGEN) was -4.76% and its shares lost 22.08% of their value over the last 52 weeks. Repligen Corporation (NASDAQ:RGEN) has a market capitalization of $11.356 billion.
Here is what Baron Funds specifically said about Repligen Corporation (NASDAQ:RGEN) in its Q3 2022 investor letter:
"We established a new position in Repligen Corporation (NASDAQ:RGEN), a life sciences tools supplier to the bioprocessing industry. Repligen offers a broad portfolio of products, including upstream cell culture and downstream chromatography and filtration. The company operates in attractive end-markets, historically targeting monoclonal antibodies (10% to 12% market growth) and moving into cell and gene therapies (over 25% market growth). Repligen has a strong history of innovation, including the introduction of novel filters and development of in-line process analytics. We believe the company is well positioned to benefit from the biosimilar wave that is expected after key biologic patents expire starting in 2023. Management has established a long-term goal of $2 billion in revenues by 2027/2028 which would imply close to 20% annual growth."
Copyright: wavebreakmediamicro / 123RF Stock Photo
Repligen Corporation (NASDAQ:RGEN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Repligen Corporation (NASDAQ:RGEN) at the end of the second quarter, which was 32 in the previous quarter.
We discussed Repligen Corporation (NASDAQ:RGEN) in another article and shared Artisan Partners' views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
