Truist Financial Cuts Marinus Pharmaceuticals (NASDAQ:MRNS) Price Target to $10.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price target decreased by Truist Financial from $25.00 to $10.00 in a research note published on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on the stock. Cantor Fitzgerald reissued an overweight rating and issued a $28.00 price target on shares of Marinus Pharmaceuticals in a research report on Wednesday, April 10th. Robert W. Baird reissued a neutral rating on shares of Marinus Pharmaceuticals in a research report on Tuesday. Royal Bank of Canada reissued a sector perform rating and issued a $3.00 price target (down previously from $24.00) on shares of Marinus Pharmaceuticals in a research report on Monday, April 15th. HC Wainwright restated a buy rating and set a $27.00 price objective on shares of Marinus Pharmaceuticals in a research note on Tuesday. Finally, StockNews.com cut Marinus Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $16.07.

Marinus Pharmaceuticals Stock Performance

NASDAQ MRNS opened at $1.38 on Wednesday. The company has a fifty day simple moving average of $8.37 and a 200 day simple moving average of $8.36. Marinus Pharmaceuticals has a 12-month low of $1.11 and a 12-month high of $11.26. The company has a debt-to-equity ratio of 5.68, a current ratio of 4.07 and a quick ratio of 4.01.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $7.19 million during the quarter, compared to analyst estimates of $7.78 million. During the same period in the previous year, the business posted ($0.76) EPS. As a group, sell-side analysts expect that Marinus Pharmaceuticals will post -2.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC raised its stake in shares of Marinus Pharmaceuticals by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 139,752 shares of the biopharmaceutical company’s stock worth $1,519,000 after purchasing an additional 1,475 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Marinus Pharmaceuticals by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 95,047 shares of the biopharmaceutical company’s stock worth $889,000 after purchasing an additional 2,281 shares during the period. Deutsche Bank AG raised its stake in Marinus Pharmaceuticals by 14.7% in the 3rd quarter. Deutsche Bank AG now owns 25,961 shares of the biopharmaceutical company’s stock valued at $209,000 after acquiring an additional 3,321 shares during the period. Tower Research Capital LLC TRC raised its stake in Marinus Pharmaceuticals by 94.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,541 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 3,661 shares during the period. Finally, Rhumbline Advisers raised its stake in Marinus Pharmaceuticals by 5.7% in the 3rd quarter. Rhumbline Advisers now owns 70,705 shares of the biopharmaceutical company’s stock valued at $569,000 after acquiring an additional 3,803 shares during the period. 98.80% of the stock is currently owned by institutional investors.

About Marinus Pharmaceuticals

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.