Marinus Pharmaceuticals (NASDAQ:MRNS) Price Target Lowered to $11.00 at HC Wainwright

Marinus Pharmaceuticals (NASDAQ:MRNS) had its target price trimmed by HC Wainwright from $27.00 to $11.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

MRNS has been the subject of a number of other research reports. Truist Financial cut their target price 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. Robert W. Baird reaffirmed a neutral rating on shares of Marinus Pharmaceuticals in a research report on Tuesday, April 16th. StockNews.com downgraded shares of Marinus Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, March 6th. Royal Bank of Canada reiterated a sector perform rating and issued a $3.00 price objective (down previously from $24.00) on shares of Marinus Pharmaceuticals in a research report on Monday, April 15th. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Marinus Pharmaceuticals presently has an average rating of Hold and a consensus price target of $13.79.

Marinus Pharmaceuticals Price Performance

Shares of NASDAQ:MRNS opened at $1.57 on Tuesday. The company has a current ratio of 4.07, a quick ratio of 4.01 and a debt-to-equity ratio of 5.68. Marinus Pharmaceuticals has a 1 year low of $1.11 and a 1 year high of $11.26. The business has a fifty day simple moving average of $6.35 and a 200 day simple moving average of $7.89. The firm has a market cap of $86.24 million, a price-to-earnings ratio of -0.60 and a beta of 1.14.

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

Hedge Funds Weigh In On Marinus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in MRNS. Eventide Asset Management LLC increased its holdings in shares of Marinus Pharmaceuticals by 42.8% during 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. Jennison Associates LLC increased its holdings 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 purchasing an additional 1,089,913 shares in the last quarter. abrdn plc bought a new position in Marinus Pharmaceuticals in the 4th quarter valued at $6,006,000. Superstring Capital Management LP acquired a new position in Marinus Pharmaceuticals during the 4th quarter valued at about $5,027,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Marinus Pharmaceuticals by 6.3% in the 3rd 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. 98.80% of the stock is owned by institutional investors.

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.