Yahoo Finance Repligen (RGEN) Promotes CCO, Shares Fall on Leadership Change
Repligen Corporation RGEN announced that it has promoted Olivier Loeillot, its current chief commercial officer (CCO), as its new president and chief executive officer (CEO), effective from Sep 1, 2024.
The company’s current CEO, Tony J. Hunt, will step down from his role and will transition to executive chair with effect from Sep 1, 2024.
Shares of RGEN fell 11.9% on Jun 13 following the announcement of the news.
Olivier Loeillot joined Repligen as president and CCO in October last year. Prior to joining Repligen, he held senior positions at GE Healthcare Life Sciences and served as the Bioprocess President at Cytiva (a Danaher company). He has also held senior positions at Lonza.
Shares of Repligen have plunged 30% so far this year compared with the industry’s decline of 5.2%.
Image Source: Zacks Investment Research
Tony J. Hunt has been a member of RGEN’s board of directors and has served as CEO since May 2015. Under his leadership, the company witnessed above-industry growth through innovative product development, mergers and acquisitions and proper commercial execution.
During his tenure, Repligen’s total revenues witnessed an annual growth rate of more than 30% over a nine-year period, from almost $63 million in 2014 to $639 million in 2023.
However, we note that Repligen’s revenues have been declining in recent quarters, owing to the absence of COVID-related revenues. The company’s base business revenues also declined in the first quarter of 2024 due to lower revenues from the proteins business.
During the first-quarter conference call held last month, management stated that revenues in the first half of 2024 are expected to be better than the second half of 2023.
For the second half of 2024, the company expects strong sequential and year-over-year growth, driven by new product launches.
It remains to be seen how the new CEO navigates Repligen through all its current challenges and drives year-over-year growth.
Zacks Rank & Stocks to Consider
Repligen currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Acrivon Therapeutics, Inc. ACRV, Aligos Therapeutics, Inc. ALGS and RAPT Therapeutics, Inc. RAPT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for Acrivon Therapeutics’ 2024 loss per share have narrowed from $3.42 to $2.47. Loss per share estimates for 2025 have narrowed from $3.36 to $2.55. Year to date, shares of ACRV have surged 56.9%.
ACRV’s earnings beat estimates in three of the trailing four quarters and missed the same on the remaining one occasion, the average surprise being 3.56%.
In the past 60 days, estimates for Aligos Therapeutics’ 2024 loss per share have narrowed from 84 cents to 73 cents, while loss per share estimates for 2025 have narrowed from 82 cents to 71 cents. Year to date, shares of ALGS have declined 23.5%.
ALGS’ earnings beat estimates in three of the trailing four quarters and missed the same on the remaining occasion, the average surprise being 7.83%.
In the past 60 days, estimates for RAPT Therapeutics’ 2024 loss per share have narrowed from $3.19 to $2.93. Loss per share estimates for 2025 have narrowed from $2.40 to $2.05. Year to date, shares of RAPT have plunged 86%.
RAPT’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 3.19%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Repligen Corporation (RGEN) : Free Stock Analysis Report
Rapt Therapeutics (RAPT) : Free Stock Analysis Report
Aligos Therapeutics, Inc. (ALGS) : Free Stock Analysis Report
Acrivon Therapeutics, Inc. (ACRV) : Free Stock Analysis Report
