Marinus Pharmaceuticals (NASDAQ:MRNS) PT Lowered to $11.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its target price lowered by analysts at HC Wainwright from $27.00 to $11.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on MRNS. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price (down previously from $24.00) on shares of Marinus Pharmaceuticals in a research report on Monday, April 15th. Truist Financial decreased their price objective on shares of Marinus Pharmaceuticals from $25.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Oppenheimer restated a “market perform” rating and issued a $9.00 target price on shares of Marinus Pharmaceuticals in a report on Thursday, March 7th. StockNews.com downgraded Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of Marinus Pharmaceuticals in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.79.

Marinus Pharmaceuticals Trading Down 8.9 %

Shares of MRNS stock opened at $1.43 on Tuesday. Marinus Pharmaceuticals has a twelve month low of $1.11 and a twelve month high of $11.26. The stock’s fifty day simple moving average is $6.18 and its 200 day simple moving average is $7.84. 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 firm has a market capitalization of $78.55 million, a P/E ratio of -0.54 and a beta of 1.14.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.10). Marinus Pharmaceuticals had a negative return on equity of 269.75% and a negative net margin of 456.31%. The firm had revenue of $7.19 million for the quarter, compared to the consensus estimate of $7.78 million. During the same quarter last year, the firm posted ($0.76) earnings per share. As a group, sell-side analysts predict that Marinus Pharmaceuticals will post -2.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Eventide Asset Management LLC raised its stake in shares of Marinus Pharmaceuticals by 42.8% in the third quarter. Eventide Asset Management LLC now owns 4,529,997 shares of the biopharmaceutical company’s stock worth $36,466,000 after purchasing an additional 1,356,800 shares during the last quarter. Jennison Associates LLC lifted its stake in Marinus Pharmaceuticals by 58.4% during the 3rd quarter. Jennison Associates LLC now owns 2,955,343 shares of the biopharmaceutical company’s stock valued at $23,791,000 after acquiring an additional 1,089,913 shares in the last quarter. abrdn plc purchased a new position in Marinus Pharmaceuticals during the 4th quarter worth $6,006,000. Superstring Capital Management LP bought a new stake in shares of Marinus Pharmaceuticals in the 4th quarter worth $5,027,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Marinus Pharmaceuticals by 6.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 2,904,476 shares of the biopharmaceutical company’s stock valued at $23,381,000 after purchasing an additional 173,226 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

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.