HC Wainwright Begins Coverage on Marinus Pharmaceuticals (MRNS)

HC Wainwright started coverage on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a report released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $33.00 price objective on the biopharmaceutical company’s stock.

MRNS has been the subject of a number of other research reports. ValuEngine cut shares of Marinus Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, December 1st. Laidlaw started coverage on shares of Marinus Pharmaceuticals in a research report on Thursday, December 14th. They issued a buy rating and a $18.00 price objective for the company. Finally, BidaskClub cut shares of Marinus Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $20.67.

Shares of Marinus Pharmaceuticals (NASDAQ:MRNS) opened at $6.22 on Thursday. Marinus Pharmaceuticals has a 1 year low of $1.13 and a 1 year high of $9.87. The company has a market cap of $251.47, a price-to-earnings ratio of -6.69 and a beta of 2.10.

In related news, CEO Christopher Michael Cashman sold 9,566 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $6.28, for a total value of $60,074.48. Following the completion of the transaction, the chief executive officer now directly owns 247,903 shares of the company’s stock, valued at approximately $1,556,830.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Bain Capital Life Sciences Inv sold 1,272,547 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $7.88, for a total transaction of $10,027,670.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,107,660 shares of company stock valued at $16,774,106. 6.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in Marinus Pharmaceuticals in the 3rd quarter worth $128,000. FNY Partners Fund LP acquired a new position in Marinus Pharmaceuticals in the 4th quarter worth $183,000. Wells Fargo & Company MN acquired a new position in Marinus Pharmaceuticals in the 4th quarter worth $225,000. Citadel Advisors LLC boosted its stake in Marinus Pharmaceuticals by 327.8% in the 3rd quarter. Citadel Advisors LLC now owns 51,383 shares of the biopharmaceutical company’s stock worth $301,000 after purchasing an additional 39,371 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in Marinus Pharmaceuticals in the 4th quarter worth $305,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

WARNING: This piece was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/19/hc-wainwright-begins-coverage-on-marinus-pharmaceuticals-mrns-2.html.

Marinus Pharmaceuticals Company Profile

Marinus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical-stage product candidate, ganaxolone, is a modulator being developed in various dose forms, including intravenous, oral capsule and oral liquid, intended to provide more treatment options to adult and pediatric patient populations in both acute and chronic care settings.

Receive News & Ratings for Marinus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marinus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply