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

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price target reduced by stock analysts at Truist Financial from $25.00 to $10.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock.

MRNS has been the subject of a number of other research reports. Robert W. Baird restated a “neutral” rating on shares of Marinus Pharmaceuticals in a research report on Tuesday. StockNews.com lowered Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Oppenheimer restated a “market perform” rating and set a $9.00 price objective on shares of Marinus Pharmaceuticals in a research report on Thursday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Marinus Pharmaceuticals in a research report on Tuesday. Finally, Royal Bank of Canada reiterated 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. 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.07.

Marinus Pharmaceuticals Trading Up 20.0 %

Shares of MRNS stock opened at $1.44 on Wednesday. Marinus Pharmaceuticals has a 52-week low of $1.11 and a 52-week high of $11.26. The company has a debt-to-equity ratio of 5.68, a quick ratio of 4.01 and a current ratio of 4.07. The firm has a market capitalization of $79.10 million, a PE ratio of -0.55 and a beta of 0.91. The stock has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $8.45.

Marinus Pharmaceuticals (NASDAQ:MRNS) last issued its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.10). The firm had revenue of $7.19 million for the quarter, compared to analysts’ expectations of $7.78 million. Marinus Pharmaceuticals had a negative net margin of 456.31% and a negative return on equity of 269.75%. During the same quarter in the previous year, the business earned ($0.76) EPS. On average, analysts predict that Marinus Pharmaceuticals will post -2.37 EPS for the current fiscal year.

Institutional Trading of Marinus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Eventide Asset Management LLC raised its stake in 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 buying an additional 1,356,800 shares in the last quarter. Lion Point Capital LP raised its stake in Marinus Pharmaceuticals by 14.6% in the fourth quarter. Lion Point Capital LP now owns 4,222,648 shares of the biopharmaceutical company’s stock worth $21,480,000 after buying an additional 538,026 shares in the last quarter. BlackRock Inc. raised its stake in Marinus Pharmaceuticals by 245.4% in the second quarter. BlackRock Inc. now owns 3,897,770 shares of the biopharmaceutical company’s stock worth $42,330,000 after buying an additional 2,769,357 shares in the last quarter. Franklin Resources Inc. raised its stake in Marinus Pharmaceuticals by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 3,833,955 shares of the biopharmaceutical company’s stock worth $41,675,000 after buying an additional 49,589 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Marinus Pharmaceuticals in the fourth quarter worth approximately $13,990,000. 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.