RBC Capital lowered the firm’s price target on Maravai Lifesciences (MRVI) to $13 from $17 and keeps an Outperform rating on the shares after its wider than expected Q3 loss. Following three straight quarters of solid performance relative to guidance, Maravai fell victim to the weak biotech spending environment and lumpy customer order patterns inherent in their business, the analyst tells investors in a research note.
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Read More on MRVI:
- Maravai Lifesciences price target lowered to $9 from $10 at Baird
- Maravai downgraded to Market Perform from Outperform at William Blair
- Maravai LifeSciences Reports Q3 Earnings and Strategic Acquisition
- Maravai Lifesciences reports Q3 adjusted EPS (2c), consensus (1c)
- Maravai Lifesciences lowers FY24 revenue view to $255M-$265M from $265M-$285M