Maravai LifeSciences (NASDAQ:MRVI) Issues FY 2021 Earnings Guidance

Maravai LifeSciences (NASDAQ:MRVI) updated its FY 2021 earnings guidance on Wednesday. The company provided EPS guidance of $1.480-$1.520 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.390. The company issued revenue guidance of $770 million-$780 million, compared to the consensus revenue estimate of $764.03 million.Maravai LifeSciences also updated its FY 2022 guidance to EPS.

A number of analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Maravai LifeSciences from $51.00 to $59.00 and gave the company an outperform rating in a research report on Wednesday, August 11th. Zacks Investment Research upgraded shares of Maravai LifeSciences from a hold rating to a buy rating and set a $41.00 price target on the stock in a report on Saturday, November 13th. Credit Suisse Group lifted their price target on shares of Maravai LifeSciences from $44.00 to $54.00 and gave the stock an outperform rating in a report on Wednesday, August 11th. Morgan Stanley lifted their price target on shares of Maravai LifeSciences from $54.00 to $62.00 and gave the stock an overweight rating in a report on Thursday, August 12th. Finally, KeyCorp lifted their price target on shares of Maravai LifeSciences from $46.00 to $58.00 and gave the stock an overweight rating in a report on Wednesday, August 11th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Maravai LifeSciences presently has an average rating of Buy and an average price target of $45.11.

NASDAQ MRVI traded up $0.67 during mid-day trading on Thursday, reaching $37.16. 763,901 shares of the stock were exchanged, compared to its average volume of 1,472,571. Maravai LifeSciences has a one year low of $23.62 and a one year high of $63.55. The stock has a 50 day simple moving average of $41.55 and a 200-day simple moving average of $44.11. The stock has a market cap of $9.57 billion and a P/E ratio of 35.73. The company has a debt-to-equity ratio of 1.28, a current ratio of 6.01 and a quick ratio of 5.52.

Maravai LifeSciences (NASDAQ:MRVI) last announced its earnings results on Wednesday, November 10th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. Maravai LifeSciences had a net margin of 22.69% and a return on equity of 109.36%. The business had revenue of $204.81 million during the quarter, compared to the consensus estimate of $199.68 million. Sell-side analysts anticipate that Maravai LifeSciences will post 1.51 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. increased its stake in Maravai LifeSciences by 25.0% in the third quarter. American International Group Inc. now owns 1,994 shares of the company’s stock valued at $98,000 after purchasing an additional 399 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Maravai LifeSciences in the third quarter valued at $275,000. Dimensional Fund Advisors LP bought a new stake in Maravai LifeSciences in the third quarter valued at $868,000. Bank of New York Mellon Corp increased its stake in Maravai LifeSciences by 31.9% in the third quarter. Bank of New York Mellon Corp now owns 360,716 shares of the company’s stock valued at $17,703,000 after purchasing an additional 87,254 shares in the last quarter. Finally, Morgan Stanley increased its stake in Maravai LifeSciences by 35.8% in the second quarter. Morgan Stanley now owns 1,911,878 shares of the company’s stock valued at $79,783,000 after purchasing an additional 504,083 shares in the last quarter. 44.31% of the stock is owned by hedge funds and other institutional investors.

Maravai LifeSciences Company Profile

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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Earnings History and Estimates for Maravai LifeSciences (NASDAQ:MRVI)

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