Bainco International Investors acquired a new stake in Marina Biotech, Inc. (OTCMKTS:MRNA) in the first quarter, Holdings Channel reports. The firm acquired 11,000 shares of the biotechnology company’s stock, valued at approximately $224,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MRNA. Canada Pension Plan Investment Board purchased a new stake in shares of Marina Biotech during the fourth quarter worth approximately $24,430,000. Moloney Securities Asset Management LLC purchased a new stake in shares of Marina Biotech during the first quarter worth approximately $1,051,000. Parallel Advisors LLC purchased a new stake in shares of Marina Biotech during the first quarter worth approximately $207,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Marina Biotech during the fourth quarter worth approximately $146,000.
Several equities research analysts have recently commented on MRNA shares. Zacks Investment Research cut Marina Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Oppenheimer restated a “buy” rating on shares of Marina Biotech in a research note on Tuesday, March 19th. Chardan Capital started coverage on Marina Biotech in a research note on Friday, April 5th. They set a “buy” rating and a $40.00 price target for the company. Finally, Piper Jaffray Companies upped their price target on Marina Biotech from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Marina Biotech presently has an average rating of “Buy” and an average price target of $27.10.
OTCMKTS:MRNA opened at $23.12 on Thursday. Marina Biotech, Inc. has a 1 year low of $13.03 and a 1 year high of $29.79.
Marina Biotech (OTCMKTS:MRNA) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.01). The business had revenue of $16.03 million during the quarter, compared to analysts’ expectations of $33.59 million.
Marina Biotech Company Profile
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.
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