Intrinsic value of Repligen - RGEN

Previous Close

$40.72

  Intrinsic Value

$31.85

stock screener

  Rating & Target

sell

-22%

  Value-price divergence*

+3%

Previous close

$40.72

 
Intrinsic value

$31.85

 
Up/down potential

-22%

 
Rating

sell

 
Value-price divergence*

+3%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of RGEN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  25.00
  24.00
  22.10
  20.39
  18.85
  17.47
  16.22
  15.10
  14.09
  13.18
  12.36
  11.62
  10.96
  10.37
  9.83
  9.35
  8.91
  8.52
  8.17
  7.85
  7.57
  7.31
  7.08
  6.87
  6.68
  6.52
  6.36
  6.23
  6.10
  5.99
  5.89
Revenue, $m
  105
  130
  159
  191
  227
  267
  311
  357
  408
  462
  519
  579
  642
  709
  779
  851
  927
  1,006
  1,088
  1,174
  1,263
  1,355
  1,451
  1,551
  1,654
  1,762
  1,874
  1,991
  2,112
  2,239
  2,371
Variable operating expenses, $m
 
  108
  130
  155
  184
  215
  248
  285
  324
  366
  411
  452
  502
  554
  608
  665
  724
  786
  850
  917
  986
  1,058
  1,133
  1,211
  1,292
  1,376
  1,463
  1,555
  1,649
  1,748
  1,851
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  89
  108
  130
  155
  184
  215
  248
  285
  324
  366
  411
  452
  502
  554
  608
  665
  724
  786
  850
  917
  986
  1,058
  1,133
  1,211
  1,292
  1,376
  1,463
  1,555
  1,649
  1,748
  1,851
Operating income, $m
  16
  23
  29
  36
  44
  53
  62
  72
  83
  95
  108
  127
  141
  155
  171
  187
  203
  220
  239
  257
  277
  297
  318
  340
  363
  386
  411
  436
  463
  491
  520
EBITDA, $m
  21
  32
  39
  46
  55
  65
  75
  87
  99
  112
  126
  140
  156
  172
  189
  206
  225
  244
  264
  285
  306
  329
  352
  376
  401
  427
  454
  483
  512
  543
  575
Interest expense (income), $m
  0
  3
  4
  5
  7
  8
  10
  12
  13
  15
  18
  20
  22
  25
  27
  30
  33
  36
  39
  43
  46
  50
  53
  57
  61
  65
  70
  74
  79
  84
  89
Earnings before tax, $m
  12
  19
  25
  30
  37
  44
  52
  61
  70
  80
  90
  107
  118
  131
  143
  156
  170
  184
  199
  215
  231
  247
  265
  283
  301
  321
  341
  362
  384
  407
  431
Tax expense, $m
  0
  5
  7
  8
  10
  12
  14
  16
  19
  22
  24
  29
  32
  35
  39
  42
  46
  50
  54
  58
  62
  67
  71
  76
  81
  87
  92
  98
  104
  110
  116
Net income, $m
  12
  14
  18
  22
  27
  32
  38
  44
  51
  58
  66
  78
  86
  95
  104
  114
  124
  135
  145
  157
  168
  181
  193
  206
  220
  234
  249
  264
  280
  297
  315

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  142
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  289
  182
  223
  268
  319
  374
  435
  501
  571
  646
  726
  811
  900
  993
  1,090
  1,192
  1,299
  1,409
  1,524
  1,644
  1,768
  1,898
  2,032
  2,172
  2,317
  2,468
  2,625
  2,788
  2,959
  3,136
  3,321
Adjusted assets (=assets-cash), $m
  147
  182
  223
  268
  319
  374
  435
  501
  571
  646
  726
  811
  900
  993
  1,090
  1,192
  1,299
  1,409
  1,524
  1,644
  1,768
  1,898
  2,032
  2,172
  2,317
  2,468
  2,625
  2,788
  2,959
  3,136
  3,321
Revenue / Adjusted assets
  0.714
  0.714
  0.713
  0.713
  0.712
  0.714
  0.715
  0.713
  0.715
  0.715
  0.715
  0.714
  0.713
  0.714
  0.715
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
  0.714
Average production assets, $m
  36
  44
  54
  65
  77
  90
  105
  121
  138
  156
  175
  196
  217
  240
  263
  288
  313
  340
  368
  397
  427
  458
  490
  524
  559
  596
  633
  673
  714
  757
  801
Working capital, $m
  163
  26
  32
  38
  45
  53
  62
  71
  82
  92
  104
  116
  128
  142
  156
  170
  185
  201
  218
  235
  253
  271
  290
  310
  331
  352
  375
  398
  422
  448
  474
Total debt, $m
  95
  124
  157
  194
  235
  280
  330
  383
  441
  502
  568
  637
  709
  785
  865
  948
  1,035
  1,125
  1,219
  1,317
  1,418
  1,524
  1,633
  1,747
  1,866
  1,989
  2,117
  2,250
  2,389
  2,534
  2,685
Total liabilities, $m
  120
  149
  182
  219
  260
  305
  355
  408
  466
  527
  593
  662
  734
  810
  890
  973
  1,060
  1,150
  1,244
  1,342
  1,443
  1,549
  1,658
  1,772
  1,891
  2,014
  2,142
  2,275
  2,414
  2,559
  2,710
Total equity, $m
  169
  34
  41
  49
  59
  69
  80
  92
  105
  119
  134
  149
  166
  183
  201
  219
  239
  259
  280
  303
  325
  349
  374
  400
  426
  454
  483
  513
  544
  577
  611
Total liabilities and equity, $m
  289
  183
  223
  268
  319
  374
  435
  500
  571
  646
  727
  811
  900
  993
  1,091
  1,192
  1,299
  1,409
  1,524
  1,645
  1,768
  1,898
  2,032
  2,172
  2,317
  2,468
  2,625
  2,788
  2,958
  3,136
  3,321
Debt-to-equity ratio
  0.562
  3.690
  3.820
  3.930
  4.010
  4.070
  4.120
  4.160
  4.200
  4.220
  4.250
  4.270
  4.280
  4.300
  4.310
  4.320
  4.330
  4.340
  4.350
  4.350
  4.360
  4.360
  4.370
  4.370
  4.380
  4.380
  4.380
  4.390
  4.390
  4.390
  4.390
Adjusted equity ratio
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184
  0.184

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  12
  14
  18
  22
  27
  32
  38
  44
  51
  58
  66
  78
  86
  95
  104
  114
  124
  135
  145
  157
  168
  181
  193
  206
  220
  234
  249
  264
  280
  297
  315
Depreciation, amort., depletion, $m
  5
  9
  10
  10
  11
  12
  13
  14
  16
  17
  18
  13
  15
  17
  18
  20
  22
  23
  25
  27
  29
  32
  34
  36
  39
  41
  44
  46
  49
  52
  55
Funds from operations, $m
  -8
  23
  28
  33
  38
  45
  51
  59
  67
  75
  84
  92
  101
  112
  123
  134
  146
  158
  171
  184
  198
  212
  227
  242
  259
  275
  293
  311
  330
  349
  370
Change in working capital, $m
  -16
  5
  6
  6
  7
  8
  9
  9
  10
  11
  11
  12
  13
  13
  14
  15
  15
  16
  16
  17
  18
  18
  19
  20
  21
  22
  22
  23
  24
  25
  26
Cash from operations, $m
  8
  18
  22
  26
  31
  37
  43
  49
  56
  64
  72
  80
  89
  98
  109
  119
  131
  142
  154
  167
  180
  194
  208
  223
  238
  254
  270
  287
  305
  324
  343
Maintenance CAPEX, $m
  0
  -2
  -3
  -4
  -4
  -5
  -6
  -7
  -8
  -10
  -11
  -12
  -13
  -15
  -17
  -18
  -20
  -22
  -23
  -25
  -27
  -29
  -32
  -34
  -36
  -39
  -41
  -44
  -46
  -49
  -52
New CAPEX, $m
  -4
  -9
  -10
  -11
  -12
  -13
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -39
  -41
  -43
  -45
Cash from investing activities, $m
  -49
  -11
  -13
  -15
  -16
  -18
  -21
  -23
  -25
  -28
  -30
  -32
  -34
  -38
  -41
  -43
  -46
  -49
  -51
  -54
  -57
  -60
  -64
  -68
  -71
  -75
  -79
  -83
  -87
  -92
  -97
Free cash flow, $m
  -41
  7
  9
  12
  14
  18
  22
  26
  31
  37
  42
  47
  54
  61
  69
  77
  85
  94
  103
  113
  123
  133
  144
  155
  167
  179
  191
  204
  218
  232
  247
Issuance/(repayment) of debt, $m
  111
  29
  33
  37
  41
  45
  50
  54
  58
  61
  65
  69
  73
  76
  80
  83
  87
  90
  94
  98
  102
  105
  110
  114
  118
  123
  128
  133
  139
  145
  151
Issuance/(repurchase) of shares, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  112
  29
  33
  37
  41
  45
  50
  54
  58
  61
  65
  69
  73
  76
  80
  83
  87
  90
  94
  98
  102
  105
  110
  114
  118
  123
  128
  133
  139
  145
  151
Total cash flow (excl. dividends), $m
  68
  36
  42
  49
  56
  63
  71
  80
  89
  98
  108
  116
  126
  137
  148
  160
  172
  184
  197
  210
  224
  239
  253
  269
  285
  302
  319
  338
  357
  377
  397
Retained Cash Flow (-), $m
  -46
  -7
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
Prev. year cash balance distribution, $m
 
  142
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  171
  35
  40
  46
  53
  60
  68
  76
  84
  93
  100
  110
  120
  130
  141
  152
  164
  176
  188
  201
  215
  229
  243
  258
  274
  291
  308
  325
  344
  363
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  164
  32
  35
  38
  41
  44
  46
  47
  48
  49
  48
  47
  46
  44
  41
  39
  36
  32
  29
  26
  22
  19
  16
  13
  11
  8
  7
  5
  4
  3
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Repligen Corporation, a bioprocessing company, focuses on the development, production, and commercialization of products used in the production of monoclonal antibodies, recombinant proteins, and vaccines. It manufactures various forms of Protein A, a critical reagent used to purify monoclonal antibodies. The company also supplies various growth factor alternating tangential flow system and cell filtration products, which are used to increase cell culture productivity during the bioproduction process. In addition, it manufactures and sells OPUS pre-packed chromatography columns, protein A affinity ligands, a critical component of protein A media that is used to separate and purify monoclonal antibody therapeutics. Further, the company has a portfolio of therapeutic product candidates, which include histone deacetylase inhibitor for the treatment of Friedreich’s ataxia disease; and RG1068, a synthetic human hormone developed as a novel imaging agent for the detection of pancreatic duct abnormalities in combination with magnetic resonance imaging in patients with pancreatitis and other pancreatic diseases. Additionally, it offers alternating tangential flow system, a filtration device used to improve product yield during the fermentation step of the biologic drug manufacturing process. The company sells its bioprocessing products directly and through distributors to various life sciences companies, biopharmaceutical companies, and contract manufacturers in the United States, the United Kingdom, Sweden, and internationally. Repligen Corporation was founded in 1981 and is headquartered in Waltham, Massachusetts.

FINANCIAL RATIOS  of  Repligen (RGEN)

Valuation Ratios
P/E Ratio 114.8
Price to Sales 13.1
Price to Book 8.2
Price to Tangible Book
Price to Cash Flow 172.2
Price to Free Cash Flow 344.5
Growth Rates
Sales Growth Rate 25%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 33.3%
Cap. Spend. - 3 Yr. Gr. Rate -4.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 56.2%
Total Debt to Equity 56.2%
Interest Coverage 0
Management Effectiveness
Return On Assets 5.5%
Ret/ On Assets - 3 Yr. Avg. 6.2%
Return On Total Capital 6.2%
Ret/ On T. Cap. - 3 Yr. Avg. 7.1%
Return On Equity 8.2%
Return On Equity - 3 Yr. Avg. 7.8%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 54.3%
Gross Margin - 3 Yr. Avg. 55.9%
EBITDA Margin 16.2%
EBITDA Margin - 3 Yr. Avg. 20.4%
Operating Margin 15.2%
Oper. Margin - 3 Yr. Avg. 16.4%
Pre-Tax Margin 11.4%
Pre-Tax Margin - 3 Yr. Avg. 14.7%
Net Profit Margin 11.4%
Net Profit Margin - 3 Yr. Avg. 11.5%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 19.3%
Payout Ratio 0%

RGEN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RGEN stock intrinsic value calculation we used $105 million for the last fiscal year's total revenue generated by Repligen. The default revenue input number comes from 2016 income statement of Repligen. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RGEN stock valuation model: a) initial revenue growth rate of 24% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for RGEN is calculated based on our internal credit rating of Repligen, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Repligen.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RGEN stock the variable cost ratio is equal to 83.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for RGEN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Repligen.

Corporate tax rate of 27% is the nominal tax rate for Repligen. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RGEN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RGEN are equal to 33.8%.

Life of production assets of 14.5 years is the average useful life of capital assets used in Repligen operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RGEN is equal to 20%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $169 million for Repligen - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 32.782 million for Repligen is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Repligen at the current share price and the inputted number of shares is $1.3 billion.

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COMPANY NEWS

▶ Repligen to Report Second Quarter 2017 Financial Results   [Jul-27-17 07:00AM  GlobeNewswire]
▶ Top Ranked Momentum Stocks to Buy for July 3rd   [Jul-03-17 11:30AM  Zacks]
▶ Top 3 Healthcare Penny Stocks for 2017   [Jun-20-17 11:38AM  Investopedia]
▶ ETFs with exposure to Repligen Corp. : June 19, 2017   [Jun-19-17 04:03PM  Capital Cube]
▶ Repligen tops Street 1Q forecasts   [May-04-17 07:53AM  Associated Press]
▶ ETFs with exposure to Repligen Corp. : May 1, 2017   [May-01-17 04:21PM  Capital Cube]
▶ ETFs with exposure to Repligen Corp. : April 21, 2017   [Apr-21-17 03:04PM  Capital Cube]
▶ ETFs with exposure to Repligen Corp. : April 7, 2017   [Apr-07-17 05:23PM  Capital Cube]
▶ Stocks Flat But Alphabet, Lockheed Martin Hit New Highs   [Mar-17-17 03:06PM  Investor's Business Daily]
▶ Top 3 Healthcare Penny Stocks for 2017   [08:00AM  at Investopedia]
▶ Repligen beats 4Q profit forecasts   [07:55AM  Associated Press]
▶ Is Repligen Corporation (RGEN) a Good Stock to Buy?   [Dec-10-16 06:46PM  at Insider Monkey]
▶ 3 Top Stocks for Risk-Averse Investors   [Nov-01-16 10:26AM  at Motley Fool]
▶ Repligen to Report Third Quarter 2016 Financial Results   [Oct-20-16 07:30AM  GlobeNewswire]
▶ These 3 Stocks Are Up Over 700% in the Last 5 Years   [Aug-23-16 05:07PM  at Motley Fool]
▶ Repligen to Report Second Quarter 2016 Financial Results   [Jul-27-16 07:30AM  GlobeNewswire]
▶ Repligen to Present at Jefferies 2016 Healthcare Conference   [Jun-02-16 07:30AM  GlobeNewswire]
▶ How to Invest in the Life Cycle of a Drug   [May-31-16 08:32AM  at Motley Fool]
▶ The Biggest Threat to Repligen Stock   [08:26AM  at Motley Fool]
▶ Read This Before You Sell Repligen Corporation Stock   [Apr-04-16 04:09PM  at Motley Fool]
Stock chart of RGEN Financial statements of RGEN Annual reports of RGEN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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