Baird analyst Catherine Schulte lowered the firm’s price target on Maravai Lifesciences (MRVI) to $9 from $10 and keeps an Outperform rating on the shares. The firm said they reported 3Q results below expectations, with both segments light versus the firm’s model. In NAP, the company noted soft research/discovery demand, a lack of larger drop-in orders, and a few GMP program timing delays into 2025.
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Read More on MRVI:
- 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
- Maravai Lifesciences to acquire DNA and RNA business of Officinae Bio
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