💊 Incyte Corp Drops on Project Shifts, Blueprint Medicines Beats Revenue Estimates, Moderna and Biogen Edge Down Ahead of Earnings Reports | Biotech Sector Insights
Repligen Corporation announced its acquisition of Tantti Laboratory, which is expected to enhance its capabilities and positively impact adjusted margins and earnings per share by 2026. The company also provided updated financial guidance for 2024, projecting adjusted EPS between $1.42 and $1.49.
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Below are AI-generated insights on moves in the health care/biotechnology sector, powered by MarketReader technology.
Tuesday, July 30
IBB [-0.4%]
The iShares Biotechnology ETF (IBB) has seen a price increase of 0.3% since Monday's close. Key contributors to this performance include Vertex Pharmaceuticals (VRTX), IQVIA Holdings (IQV), Repligen Corporation (RGEN), Regeneron Pharmaceuticals (REGN), and Amgen (AMGN), all of which reported positive returns. Notably, Repligen Corporation announced its acquisition of Tantti Laboratory, which is expected to enhance its capabilities and positively impact adjusted margins and earnings per share by 2026. The company also provided updated financial guidance for 2024, projecting adjusted EPS between $1.42 and $1.49, alongside revenue expectations of $620 million to $635 million. Additionally, the latest JOLTs Job Openings report revealed 8.184 million openings, surpassing expectations and showing a slight improvement from the prior month, while job quits decreased to 3.282 million, the lowest since January 2021.