TD Cowen starts coverage on Maravai LifeSciences stock at USD 9

Published on 10/07/2026 at 04:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue was USD 51.44 million, up 9.00 percent year over year. Maravai LifeSciences stock had EUR 7.00 as prior close on October 5, 2026.

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Maravai LifeSciences (ISIN US56600D1072) received a USD 9.00 price target and a Buy rating from TD Cowen, according to Investing.com on October 5, 2026. The target implies 14.00 percent upside to the USD 7.90 price cited in that report.

TD Cowen sees CleanCap growth

TD Cowen identified returning growth in CleanCap revenue as a key reason for its coverage decision. The analyst also pointed to the conversion of Maravai's non-COVID messenger RNA pipeline from discovery work into higher-value good manufacturing practice opportunities.

The valuation case remains tied to execution. TD Cowen applied a 6.5 times enterprise-value-to-2027-sales multiple and said the target used a discount to the approximately 8 times average multiple for comparable companies.

Second-quarter results show operating leverage

Maravai generated USD 51.44 million of revenue in the second quarter of 2026, representing 9.00 percent year-over-year growth, according to the company's earnings call transcript published by Yahoo Finance. Adjusted EBITDA reached USD 8.70 million, an improvement of USD 19.10 million from the prior-year period.

The same call showed a sharper improvement in the operating profile. Adjusted gross margin expanded to 58.90 percent in the second quarter, while GMP consumables revenue grew 55.00 percent year over year and discovery messenger RNA added 67 customers.

Guidance favors profit improvement

Management maintained fiscal 2026 revenue guidance at USD 205.0 million to USD 215.0 million and raised adjusted EBITDA guidance to USD 33.0 million to USD 35.0 million. The company also expects gross-margin improvement of more than 1,400 basis points, while the timing of large GMP and contract development and manufacturing orders remains a key variable.

For investors, the central tension is visible in the figures: revenue guidance remains deliberately broad, while the second-quarter margin and customer data point to stronger operating leverage. Maravai's prior close at Lang & Schwarz was EUR 7.00 on October 5, 2026, after the dormant quote dated October 6, 2026 showed EUR 7.00 as the previous close. The further course of trading is shown by the continuously updated real-time quote of Maravai LifeSciences stock.