Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.13.
MRVI has been the subject of a number of recent research reports. KeyCorp dropped their price objective on shares of Maravai LifeSciences from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 13th. They set a “buy” rating and a $25.00 target price on the stock. Robert W. Baird decreased their target price on shares of Maravai LifeSciences from $34.00 to $25.00 in a research report on Thursday, November 3rd. Bank of America lowered shares of Maravai LifeSciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $17.00 in a research report on Thursday, November 3rd. Finally, Royal Bank of Canada initiated coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 6th. They set an “outperform” rating and a $22.00 target price on the stock.
Maravai LifeSciences Trading Up 1.3 %
Shares of MRVI opened at $14.31 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.22 and a quick ratio of 6.68. The firm has a 50 day simple moving average of $15.15 and a 200-day simple moving average of $21.75. Maravai LifeSciences has a 1-year low of $12.16 and a 1-year high of $43.50. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 7.99 and a beta of -0.30.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Maravai LifeSciences had a net margin of 26.29% and a return on equity of 69.19%. The business had revenue of $191.26 million during the quarter, compared to analysts’ expectations of $193.83 million. Equities analysts forecast that Maravai LifeSciences will post 1.79 EPS for the current fiscal year.
Hedge Funds Weigh In On Maravai LifeSciences
A number of hedge funds have recently made changes to their positions in the stock. Fred Alger Management LLC boosted its holdings in shares of Maravai LifeSciences by 2.0% in the 3rd quarter. Fred Alger Management LLC now owns 94,126 shares of the company’s stock valued at $2,403,000 after purchasing an additional 1,889 shares during the last quarter. BNP Paribas Arbitrage SNC acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at $375,000. State Street Corp boosted its holdings in shares of Maravai LifeSciences by 0.3% in the 3rd quarter. State Street Corp now owns 1,754,976 shares of the company’s stock valued at $44,805,000 after purchasing an additional 6,088 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Maravai LifeSciences by 13.6% in the 3rd quarter. Algert Global LLC now owns 72,154 shares of the company’s stock valued at $1,842,000 after purchasing an additional 8,651 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Maravai LifeSciences in the 3rd quarter valued at $65,350,000. Institutional investors and hedge funds own 48.67% of the company’s stock.
About Maravai LifeSciences
Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases in the United States and internationally. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.
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