Marinus Pharmaceuticals (NASDAQ:MRNS) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Marinus Pharmaceuticals (NASDAQ:MRNS - Free Report) in a research report released on Monday, MarketBeat Ratings reports. Royal Bank of Canada currently has a $3.00 price target on the biopharmaceutical company's stock, down from their previous price target of $24.00.

A number of other brokerages have also recently commented on MRNS. StockNews.com cut shares of Marinus Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, March 6th. Cantor Fitzgerald reissued an overweight rating and issued a $28.00 price objective on shares of Marinus Pharmaceuticals in a research note on Wednesday, April 10th. Oppenheimer reissued a market perform rating and issued a $9.00 price objective on shares of Marinus Pharmaceuticals in a research note on Thursday, March 7th. Finally, HC Wainwright reissued a buy rating and issued a $27.00 price objective on shares of Marinus Pharmaceuticals in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $18.21.

Marinus Pharmaceuticals Stock Performance

Shares of Marinus Pharmaceuticals stock traded down $6.22 during trading on Monday, reaching $1.30. The company's stock had a trading volume of 35,425,059 shares, compared to its average volume of 941,985. The company has a 50-day moving average price of $9.06 and a two-hundred day moving average price of $8.55. The firm has a market cap of $71.41 million, a PE ratio of -0.49 and a beta of 0.91. Marinus Pharmaceuticals has a fifty-two week low of $1.25 and a fifty-two week high of $11.26. 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 (NASDAQ:MRNS - Get Free Report) last announced its earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.10). The business had revenue of $7.19 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.76) earnings per share. On average, analysts forecast that Marinus Pharmaceuticals will post -2.43 EPS for the current year.

Institutional Investors Weigh In On Marinus Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Eventide Asset Management LLC boosted its position in shares of Marinus Pharmaceuticals by 42.8% during the 3rd quarter. Eventide Asset Management LLC now owns 4,529,997 shares of the biopharmaceutical company's stock worth $36,466,000 after purchasing an additional 1,356,800 shares in the last quarter. Lion Point Capital LP boosted its position in shares of Marinus Pharmaceuticals by 14.6% during the 4th quarter. Lion Point Capital LP now owns 4,222,648 shares of the biopharmaceutical company's stock worth $21,480,000 after purchasing an additional 538,026 shares in the last quarter. BlackRock Inc. boosted its position in shares of Marinus Pharmaceuticals by 245.4% during the 2nd quarter. BlackRock Inc. now owns 3,897,770 shares of the biopharmaceutical company's stock worth $42,330,000 after purchasing an additional 2,769,357 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Marinus Pharmaceuticals by 1.3% during the 4th quarter. Franklin Resources Inc. now owns 3,833,955 shares of the biopharmaceutical company's stock worth $41,675,000 after purchasing an additional 49,589 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Marinus Pharmaceuticals during the 4th quarter worth $13,990,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Marinus Pharmaceuticals Company Profile

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.