Zacks Investment Research cut shares of Marinus Pharmaceuticals (NASDAQ:MRNS) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.
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. “
Other analysts have also recently issued research reports about the stock. Mizuho dropped their target price on shares of Marinus Pharmaceuticals from $5.00 to $1.70 and set a neutral rating on the stock in a report on Tuesday, July 23rd. LADENBURG THALM/SH SH restated a buy rating and set a $5.00 target price on shares of Marinus Pharmaceuticals in a report on Thursday, September 26th. HC Wainwright began coverage on shares of Marinus Pharmaceuticals in a report on Tuesday, September 3rd. They set a buy rating and a $5.00 target price on the stock. Finally, ValuEngine upgraded shares of Marinus Pharmaceuticals from a hold rating to a buy rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $10.56.
Shares of MRNS stock traded down $0.05 during mid-day trading on Thursday, reaching $1.39. 718,600 shares of the company’s stock traded hands, compared to its average volume of 996,357. Marinus Pharmaceuticals has a 12 month low of $0.77 and a 12 month high of $6.78. The company has a market cap of $73.61 million, a P/E ratio of -1.54 and a beta of 2.89. The company’s 50-day moving average price is $1.46 and its 200-day moving average price is $3.08.
Marinus Pharmaceuticals (NASDAQ:MRNS) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). On average, sell-side analysts expect that Marinus Pharmaceuticals will post -0.94 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. bought a new position in Marinus Pharmaceuticals in the 2nd quarter worth about $76,000. Wells Fargo & Company MN boosted its stake in Marinus Pharmaceuticals by 199.6% in the 2nd quarter. Wells Fargo & Company MN now owns 52,642 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 35,072 shares in the last quarter. Rhumbline Advisers boosted its stake in Marinus Pharmaceuticals by 15.8% in the 1st quarter. Rhumbline Advisers now owns 55,755 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 7,592 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Marinus Pharmaceuticals by 32.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 126,761 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 31,260 shares in the last quarter. Finally, Morgan Stanley raised its position in Marinus Pharmaceuticals by 1,679.6% in the 2nd quarter. Morgan Stanley now owns 187,889 shares of the biopharmaceutical company’s stock worth $780,000 after buying an additional 177,331 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.
About Marinus Pharmaceuticals
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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