Marinus Pharmaceuticals (NASDAQ:MRNS) PT Lowered to $1.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price target reduced by equities researchers at Royal Bank of Canada from $3.00 to $1.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 146.85% from the stock’s current price.

MRNS has been the topic of several other research reports. LADENBURG THALM/SH SH lowered shares of Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, August 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $0.50 price objective (down from $5.00) on shares of Marinus Pharmaceuticals in a research note on Friday. Cantor Fitzgerald cut their target price on shares of Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating for the company in a research note on Friday. Oppenheimer upgraded Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a research report on Monday, September 23rd. Finally, EF Hutton Acquisition Co. I upgraded Marinus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Marinus Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $6.07.

Marinus Pharmaceuticals Stock Performance

Shares of Marinus Pharmaceuticals stock opened at $0.41 on Friday. Marinus Pharmaceuticals has a twelve month low of $0.26 and a twelve month high of $11.26. The firm has a market cap of $22.31 million, a P/E ratio of -0.15 and a beta of 1.14. The firm’s 50-day simple moving average is $1.54 and its 200-day simple moving average is $1.61.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.01). Marinus Pharmaceuticals had a negative return on equity of 7,831.35% and a negative net margin of 493.14%. The company had revenue of $8.06 million for the quarter, compared to the consensus estimate of $9.05 million. During the same quarter last year, the business earned ($0.61) EPS. On average, equities analysts forecast that Marinus Pharmaceuticals will post -1.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marinus Pharmaceuticals

Several institutional investors have recently modified their holdings of MRNS. Avoro Capital Advisors LLC boosted its stake in Marinus Pharmaceuticals by 31.4% in the first quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock valued at $37,431,000 after acquiring an additional 990,607 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Marinus Pharmaceuticals by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 2,805,920 shares of the biopharmaceutical company’s stock worth $25,366,000 after purchasing an additional 132,689 shares during the last quarter. abrdn plc boosted its position in shares of Marinus Pharmaceuticals by 146.1% in the 3rd quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after purchasing an additional 1,578,329 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Marinus Pharmaceuticals during the second quarter worth $813,000. Finally, Renaissance Technologies LLC bought a new stake in Marinus Pharmaceuticals in the second quarter valued at about $727,000. Institutional investors and hedge funds 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.