Marinus Pharmaceuticals (NASDAQ:MRNS) Lifted to “Buy” at Zacks Investment Research

Marinus Pharmaceuticals (NASDAQ:MRNS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $1.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 27.74% from the company’s previous close.

According to Zacks, “Marinus Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company. It is focused on developing and commercializing therapeutics for the treatment of epilepsy and other targeted neurological, behavioral and psychiatric disorders. The Company offers Ganaxolone which has completed Phase II clinical trial for the treatment of patients with refractory focal onset seizures. Marinus Pharmaceuticals, Inc. is headquartered in New Haven, Connecticut. “

MRNS has been the topic of several other reports. Mizuho decreased their price target on Marinus Pharmaceuticals from $5.00 to $1.70 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. HC Wainwright initiated coverage on Marinus Pharmaceuticals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $5.00 target price for the company. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $5.00 target price on shares of Marinus Pharmaceuticals in a research note on Thursday, September 26th. Finally, ValuEngine raised Marinus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $10.56.

NASDAQ MRNS opened at $1.37 on Wednesday. The company has a market cap of $73.61 million, a PE ratio of -1.52 and a beta of 2.89. Marinus Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $6.95. The firm’s 50-day simple moving average is $1.43 and its two-hundred day simple moving average is $3.13.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). As a group, equities research analysts expect that Marinus Pharmaceuticals will post -0.94 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of MRNS. Rhumbline Advisers boosted its stake in shares of Marinus Pharmaceuticals by 15.8% during the first quarter. Rhumbline Advisers now owns 55,755 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 7,592 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Marinus Pharmaceuticals by 1,465.0% in the first quarter. BNP Paribas Arbitrage SA now owns 10,047 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 9,405 shares during the period. Northern Trust Corp lifted its stake in Marinus Pharmaceuticals by 1.9% in the second quarter. Northern Trust Corp now owns 548,467 shares of the biopharmaceutical company’s stock worth $2,276,000 after acquiring an additional 10,204 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in Marinus Pharmaceuticals in the second quarter worth $76,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Marinus Pharmaceuticals by 32.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 126,761 shares of the biopharmaceutical company’s stock worth $527,000 after acquiring an additional 31,260 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Marinus Pharmaceuticals Company Profile

Marinus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical stage product candidate, ganaxolone, is an allosteric modulator of GABAA, developed in three dose forms, including intravenous (IV), oral capsule, and oral liquid for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.

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