KeyBanc upgrades Maravai LifeSciences stock rating on cost cuts

KeyBanc has raised its rating on Maravai LifeSciences stock, shifting it from Sector Weight to Overweight, and has set a price target of $11.00. The firm has highlighted the positive impact of the Trump Administration and RFK Jr. as Head of HHS, which presented the worst-case scenario for the company and its mRNA technology. In June 2025, Maravai underwent a reorganization with new management, leading to a reduction of annualized expenses by more than $65 million. Despite the challenges, the company's revenue has surpassed expectations this year.

Maravai LifeSciences has reported third-quarter earnings that exceeded Wall Street forecasts, with a 10% increase in revenue to $45.9 million compared to the previous year's $43.37 million. The company has also raised its full-year outlook, citing stronger margins and growing demand for mRNA products. Maravai's latest earnings call emphasized these positive trends and the potential for continued growth.

The analyst noted that mRNA-based therapies in development grew at a compound annual growth rate (CAGR) of 30% from 2020-2025, and this growth may accelerate further. With a current stock price of $7.70, the price target of $11 represents a potential upside of about 43%. However, InvestingPro's Fair Value analysis suggests the stock may be overvalued at its current level.

Investors can access detailed Fair Value estimates and 11 additional ProTips for MRVI through InvestingPro, which provides comprehensive analysis on over 1,400 US equities.