Shares of Repligen fell after the life-sciences company issued soft earnings and sales guidance for the year, citing challenges in China.
The stock fell 10% to $180 in premarket trading. Through Tuesday’s close, shares were up about 12% over the past year.
The company on Wednesday forecast 2024 adjusted earnings of $1.42 to $1.49 a share, below the $1.77 a share that analysts surveyed by FactSet expected.
Repligen is targeting revenue of $620 million to $650 million, also below the $660.7 million that analysts expected.
“While there are still pockets of headwinds and challenging macro factors in China, we remain optimistic that our markets will improve as we advance through 2024, with growth accelerating in the second half of the year,” Chief Executive Tony Hunt said.