LifeTech Capital Initiates Marina Biotech at Strong Speculative Buy (MRNA)

LifeTech Capital is out with its report on Marina Biotech

, after initiating MRNA at Strong Speculative Buy. In a note to clients, LifeTech Capital writes, "We believe that Marina Biotech represents one of the potential winners in the relatively new and fragmented RNAi space. In our opinion, success in the space will require advanced technology platforms, an experienced management team and access to development capital, all of which Marina Biotech possesses. Our 12-18 month Price Target of $2.50 is based on a 35x multiple on projected 2015 earnings and discounted 50% to adjust for risk. We have also included a 25% acquisition premium based on Marina Biotech's multiple technology platforms and IP portfolio." At the time of posting, shares of MRNA were trading at $1.11, up 0.91% from yesterday's close.