Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Expected to Post FY2024 Earnings of ($2.32) Per Share

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) – Investment analysts at Cantor Fitzgerald cut their FY2024 earnings per share estimates for shares of Marinus Pharmaceuticals in a research note issued on Tuesday, April 16th. Cantor Fitzgerald analyst C. Duncan now expects that the biopharmaceutical company will post earnings of ($2.32) per share for the year, down from their previous forecast of ($2.13). Cantor Fitzgerald currently has a “Overweight” rating and a $28.00 target price on the stock. The consensus estimate for Marinus Pharmaceuticals’ current full-year earnings is ($2.29) per share.

Several other brokerages also recently commented on MRNS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target (down from $24.00) on shares of Marinus Pharmaceuticals in a research report on Monday, April 15th. Oppenheimer restated a “market perform” rating and set a $9.00 price objective on shares of Marinus Pharmaceuticals in a research report on Thursday, March 7th. StockNews.com cut Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Marinus Pharmaceuticals in a research report on Tuesday. Finally, Robert W. Baird restated a “neutral” rating on shares of Marinus Pharmaceuticals in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Marinus Pharmaceuticals currently has an average rating of “Hold” and an average target price of $16.07.

Marinus Pharmaceuticals Stock Performance

Shares of NASDAQ MRNS opened at $1.38 on Thursday. The company has a quick ratio of 4.01, a current ratio of 4.07 and a debt-to-equity ratio of 5.68. The business’s 50 day moving average is $8.37 and its two-hundred day moving average is $8.36. The company has a market cap of $75.80 million, a P/E ratio of -0.52 and a beta of 0.91. Marinus Pharmaceuticals has a 12 month low of $1.11 and a 12 month high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS) last issued its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.10). Marinus Pharmaceuticals had a negative net margin of 456.31% and a negative return on equity of 269.75%. The company had revenue of $7.19 million during the quarter, compared to the consensus estimate of $7.78 million. During the same period in the previous year, the business posted ($0.76) earnings per share.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Eventide Asset Management LLC raised its position in shares of Marinus Pharmaceuticals by 42.8% during the third quarter. Eventide Asset Management LLC now owns 4,529,997 shares of the biopharmaceutical company’s stock worth $36,466,000 after acquiring an additional 1,356,800 shares during the last quarter. Lion Point Capital LP increased its holdings in Marinus Pharmaceuticals by 14.6% in the fourth quarter. Lion Point Capital LP now owns 4,222,648 shares of the biopharmaceutical company’s stock valued at $21,480,000 after purchasing an additional 538,026 shares during the last quarter. BlackRock Inc. increased its holdings in Marinus Pharmaceuticals by 245.4% in the second quarter. BlackRock Inc. now owns 3,897,770 shares of the biopharmaceutical company’s stock valued at $42,330,000 after purchasing an additional 2,769,357 shares during the last quarter. Franklin Resources Inc. increased its holdings in Marinus Pharmaceuticals by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 3,833,955 shares of the biopharmaceutical company’s stock valued at $41,675,000 after purchasing an additional 49,589 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Marinus Pharmaceuticals in the fourth quarter valued at about $13,990,000. Institutional investors own 98.80% of the company’s stock.

Marinus Pharmaceuticals Company Profile

Marinus Pharmaceuticals, Inc, a pharmaceutical company, focuses on development and commercialization of therapeutic products for patients suffering from rare genetic epilepsies and other seizure disorders. It offers ZTALMY (ganaxolone), an oral suspension for the treatment of seizures associated with cyclin-dependent kinase-like 5 deficiency disorder for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.