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Fly News Breaks for November 6, 2015
RGEN
Nov 6, 2015 | 08:12 EDT
Jefferies analyst Brandon Couillard downgraded Repligen to Hold after the company halted development of its Protein A resin program. The analyst viewed the program as a "big" new growth opportunity and long-term margin driver. The project accounted for half of Repligen's total addressable market, Couillard tells investors in a post-earnings research note. He now pegs that market at $350M and views the stock's valuation as full. He cut his price target for Repligen shares to $30 from $38.
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