Repligen Continues To Gain Share In The Fast-Growing Bioproduction Market

Repligen (RGEN) is about as close as I'll get to "forget the valuation and just buy", as although these shares do carry a high multiple, Repligen is a share-gainer in the fast-growing bioproduction market. Between expanding the line-up of products on offer, gaining share within its existing portfolio, and leveraging growth in antibodies and gene therapies, I see Repligen as fully capable of generating more than 20% annualized growth for some time to come, provided the company doesn't accept a buyout offer before then.

These shares have risen more than 50% since my last update, outperforming more diversified large rivals like Danaher (DHR) and Thermo Fisher (TMO) and more or less keeping pace with Sartorius (OTC:SARTF). The development of therapeutics and vaccines for COVID-19 should provide a multiyear boost to revenue, but the main opportunity here is in growing the business to address more opportunities in areas like flow control/fluid management, analytics, and possibly fermentation and cell culture media. The valuation is not low, and I'd much prefer to pick up shares on a pullback, but I don't believe high multiples are necessarily an impediment to further appreciation from here.

 

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Repligen Continues To Gain Share In The Fast-Growing Bioproduction Market