StockNews.com Initiates Coverage on Marinus Pharmaceuticals (NASDAQ:MRNS)

Research analysts at StockNews.com began coverage on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a note issued to investors on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on MRNS. Royal Bank of Canada cut their price target on shares of Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Jefferies Financial Group reissued a “hold” rating and set a $0.50 price target (down from $5.00) on shares of Marinus Pharmaceuticals in a report on Friday, October 25th. EF Hutton Acquisition Co. I raised shares of Marinus Pharmaceuticals to a “strong-buy” rating in a report on Monday, September 30th. HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 target price on shares of Marinus Pharmaceuticals in a research note on Thursday, November 14th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Marinus Pharmaceuticals in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.79.

Marinus Pharmaceuticals Stock Down 7.9 %

Shares of MRNS stock opened at $0.28 on Wednesday. Marinus Pharmaceuticals has a 12-month low of $0.26 and a 12-month high of $11.26. The company has a market capitalization of $15.48 million, a P/E ratio of -0.11 and a beta of 1.25. The firm has a 50-day moving average price of $0.87 and a 200 day moving average price of $1.21.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of MRNS. abrdn plc raised its stake in shares of Marinus Pharmaceuticals by 146.1% during the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after buying an additional 1,578,329 shares during the last quarter. Suvretta Capital Management LLC raised its stake in shares of Marinus Pharmaceuticals by 32.8% during the third quarter. Suvretta Capital Management LLC now owns 5,073,913 shares of the biopharmaceutical company’s stock worth $8,930,000 after buying an additional 1,253,901 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Marinus Pharmaceuticals by 34.9% during the third quarter. Franklin Resources Inc. now owns 4,713,014 shares of the biopharmaceutical company’s stock worth $8,483,000 after buying an additional 1,219,871 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Marinus Pharmaceuticals by 409.4% during the third quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock worth $1,789,000 after buying an additional 817,050 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Marinus Pharmaceuticals during the second quarter worth approximately $813,000. 98.80% of the stock is owned by institutional investors.

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.