Morgan Stanley analyst Tejas Savant maintains $Maravai LifeSciences (MRVI.US)$ with a hold rating, and adjusts the target price from $10 to $7.
According to TipRanks data, the analyst has a success rate of 40.0% and a total average return of -4.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Maravai LifeSciences (MRVI.US)$'s main analysts recently are as follows:
Maravai Lifesciences' outlook indicates a lower forecast for Q4 due to delays, general economic weakness in Nucleic Acid Production (NAP) and early-stage exposure in Biologics Safety Testing (BST). The current outlook reveals persistent unclear prospects and margin pressure due to a fixed cost structure, without signs of imminent improvement.
After a sequence of three quarters where Maravai Lifesciences consistently surpassed guidance, the company experienced a setback attributed to the broader weakness in biotech sector spending and the unpredictable nature of customer orders that is typical for their industry.
Maravai Lifesciences reported third-quarter results that did not meet expectations, with performance falling short in both business segments compared to projections. The company observed a decline in research and discovery demand within its NAP segment, an absence of significant one-time orders, and some delays in GMP program timelines extending into 2025.
Note:
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