Marina Biotech (OTCMKTS:MRNA) Shares Gap Up to $16.00

Shares of Marina Biotech, Inc. (OTCMKTS:MRNA) gapped up before the market opened on Wednesday . The stock had previously closed at $15.91, but opened at $16.00. Marina Biotech shares last traded at $16.08, with a volume of 1398738 shares trading hands.

Several brokerages have recently weighed in on MRNA. Piper Jaffray Companies lifted their target price on shares of Marina Biotech from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered shares of Marina Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Oppenheimer reiterated a “buy” rating on shares of Marina Biotech in a research report on Tuesday, March 19th. Finally, Chardan Capital reiterated a “buy” rating and set a $40.00 target price on shares of Marina Biotech in a research report on Sunday, June 2nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.10.

Marina Biotech (OTCMKTS:MRNA) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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.



A number of hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC bought a new position in Marina Biotech during the 4th quarter valued at about $146,000. Parallel Advisors LLC bought a new position in Marina Biotech during the 1st quarter valued at about $207,000. Bainco International Investors bought a new position in Marina Biotech during the 1st quarter valued at about $224,000. Moloney Securities Asset Management LLC bought a new position in Marina Biotech during the 1st quarter valued at about $1,051,000. Finally, Canada Pension Plan Investment Board bought a new position in Marina Biotech during the 4th quarter valued at about $24,430,000.

TRADEMARK VIOLATION WARNING: This report was first posted by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://dakotafinancialnews.com/2019/06/12/marina-biotech-otcmktsmrna-shares-gap-up-to-16-00.html.

Marina Biotech Company Profile (OTCMKTS:MRNA)

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.

Read More: What is Net Asset Value (NAV)?

Receive News & Ratings for Marina Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marina Biotech and related companies with MarketBeat.com's FREE daily email newsletter.