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

Maravai LifeSciences (NASDAQ:MRVI) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.480-$1.520 for the period, compared to the Thomson Reuters consensus 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.

MRVI traded up $0.67 on Thursday, hitting $37.16. 763,901 shares of the stock traded hands, compared to its average volume of 1,472,571. Maravai LifeSciences has a 52 week low of $23.62 and a 52 week high of $63.55. The company has a current ratio of 6.01, a quick ratio of 5.52 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $9.57 billion and a PE ratio of 35.73. The business has a fifty day moving average price of $41.55 and a two-hundred day moving average price of $44.11.

Maravai LifeSciences (NASDAQ:MRVI) last issued its quarterly earnings results on Wednesday, November 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. Maravai LifeSciences had a return on equity of 109.36% and a net margin of 22.69%. The firm had revenue of $204.81 million for the quarter, compared to analyst estimates of $199.68 million. On average, equities research analysts forecast that Maravai LifeSciences will post 1.51 EPS for the current fiscal year.

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

Institutional investors have recently modified their holdings of the business. American International Group Inc. increased its position in shares of Maravai LifeSciences by 25.0% in the 3rd quarter. American International Group Inc. now owns 1,994 shares of the company’s stock valued at $98,000 after buying an additional 399 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Maravai LifeSciences during the 3rd quarter worth about $275,000. Dimensional Fund Advisors LP acquired a new position in shares of Maravai LifeSciences during the 3rd quarter worth about $868,000. Bank of New York Mellon Corp boosted its stake in shares of Maravai LifeSciences by 31.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 360,716 shares of the company’s stock worth $17,703,000 after buying an additional 87,254 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Maravai LifeSciences by 35.8% during the 2nd quarter. Morgan Stanley now owns 1,911,878 shares of the company’s stock worth $79,783,000 after buying an additional 504,083 shares during the last quarter. Institutional investors own 44.31% 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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Earnings History and Estimates for Maravai LifeSciences (NASDAQ:MRVI)

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