Marina Biotech, Inc. (OTCMKTS:MRNA)’s share price rose 5% during mid-day trading on Monday . The company traded as high as $25.94 and last traded at $25.84. Approximately 632,468 shares changed hands during trading, a decline of 38% from the average daily volume of 1,013,709 shares. The stock had previously closed at $24.61.
A number of brokerages have recently commented on MRNA. Needham & Company LLC began coverage on shares of Marina Biotech in a report on Wednesday, January 2nd. They set a “buy” rating and a $28.00 price target for the company. Bank of America began coverage on shares of Marina Biotech in a report on Wednesday, January 2nd. They set a “buy” rating and a $20.00 price target for the company. Goldman Sachs Group began coverage on shares of Marina Biotech in a report on Wednesday, January 2nd. They set a “buy” rating and a $25.00 price target for the company. Chardan Capital began coverage on shares of Marina Biotech in a report on Friday, April 5th. They set a “buy” rating and a $40.00 price target for the company. Finally, Oppenheimer reiterated a “buy” rating on shares of Marina Biotech in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.11.
An institutional investor recently bought a new position in Marina Biotech stock. Canada Pension Plan Investment Board bought a new stake in shares of Marina Biotech, Inc. (OTCMKTS:MRNA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,600,000 shares of the biotechnology company’s stock, valued at approximately $24,430,000. Canada Pension Plan Investment Board owned about 0.49% of Marina Biotech at the end of the most recent reporting period.
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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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