Marina Biotech, Inc. Forecasted to Earn FY2020 Earnings of ($1.76) Per Share (MRNA)

Marina Biotech, Inc. (OTCMKTS:MRNA) – Research analysts at Oppenheimer dropped their FY2020 EPS estimates for shares of Marina Biotech in a report issued on Monday, May 13th. Oppenheimer analyst H. Singh now expects that the biotechnology company will post earnings per share of ($1.76) for the year, down from their prior estimate of ($1.75). Oppenheimer currently has a “Buy” rating on the stock.

MRNA has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Marina Biotech from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Chardan Capital initiated coverage on shares of Marina Biotech in a report on Friday, April 5th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Piper Jaffray Companies boosted their price objective on shares of Marina Biotech from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.10.

Shares of Marina Biotech stock opened at $23.59 on Thursday. Marina Biotech has a twelve month low of $13.03 and a twelve month high of $29.79.

Marina Biotech (OTCMKTS:MRNA) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). The company had revenue of $16.03 million for the quarter, compared to analysts’ expectations of $33.59 million.

Institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new stake in shares of Marina Biotech during the 4th quarter valued at about $146,000. Parallel Advisors LLC bought a new position in Marina Biotech in the 1st quarter worth about $207,000. Bainco International Investors bought a new position in Marina Biotech in the 1st quarter worth about $224,000. Moloney Securities Asset Management LLC bought a new position in Marina Biotech in the 1st quarter worth about $1,051,000. Finally, Canada Pension Plan Investment Board bought a new position in Marina Biotech in the 4th quarter worth about $24,430,000.

About Marina Biotech

Marina Biotech, Inc, a biopharmaceutical company, engages in the development and commercialization of proprietary drug therapeutics primarily for hypertension, arthritis, pain, and oncology in the United States, Europe, and internationally. The company offers Prestalia, a single-pill fixed dose combination (FDC) of perindopril argenine, an angiotensin-converting-enzyme inhibitor; and amlodipine besylate, a calcium channel blocker for the treatment of hypertension.

See Also: Discount Rate

Earnings History and Estimates for Marina Biotech (OTCMKTS:MRNA)

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