Repligen Corporation's (RGEN) stock soared 9.48% in Thursday's pre-market trading session, defying expectations after the bioprocessing company reported mixed results for the fourth quarter of 2024.
While Repligen's quarterly sales of $167.55 million narrowly missed analysts' consensus estimate of $167.67 million, the company's adjusted earnings per share (EPS) of $0.44 beat the expected $0.41, representing a 7.32% surprise. Despite a slight year-over-year decline of 8.33% in EPS, the company's better-than-expected earnings performance appears to be driving the significant pre-market rally in its shares.
Repligen's ability to deliver strong earnings in the face of moderate revenue growth underscores its operational efficiency and cost control measures. As the company continues to expand its bioprocessing product portfolio and capitalize on growing demand in the biopharmaceutical industry, investors are likely anticipating sustained profitability, fueling the surge in its stock price.
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