Marinus Pharmaceuticals (NASDAQ:MRNS) Price Target Cut to $11.00 by Analysts at HC Wainwright

Marinus Pharmaceuticals (NASDAQ:MRNS - Free Report) had its target price reduced by HC Wainwright from $27.00 to $11.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company's stock.

A number of other research firms have also recently commented on MRNS. Oppenheimer reissued a market perform rating and set a $9.00 price target on shares of Marinus Pharmaceuticals in a report on Thursday, March 7th. Robert W. Baird reaffirmed a neutral rating on shares of Marinus Pharmaceuticals in a report on Tuesday, April 16th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $3.00 target price (down previously from $24.00) on shares of Marinus Pharmaceuticals in a report on Monday, April 15th. Truist Financial lowered their target price on Marinus Pharmaceuticals from $25.00 to $10.00 and set a buy rating for the company in a report on Wednesday, April 17th. Finally, StockNews.com cut Marinus Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, March 6th. 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 stock. Based on data from MarketBeat, Marinus Pharmaceuticals currently has a consensus rating of Hold and an average price target of $13.79.

Marinus Pharmaceuticals Price Performance

NASDAQ MRNS traded up $0.09 during midday trading on Tuesday, hitting $1.57. The company had a trading volume of 1,301,357 shares, compared to its average volume of 1,459,511. The company has a market capitalization of $86.24 million, a PE ratio of -0.60 and a beta of 1.14. The company has a current ratio of 4.07, a quick ratio of 4.01 and a debt-to-equity ratio of 5.68. The firm has a 50-day moving average price of $6.35 and a 200-day moving average price of $7.89. Marinus Pharmaceuticals has a twelve month low of $1.11 and a twelve month high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.10). The company 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 prior year, the firm earned ($0.76) earnings per share. As a group, analysts anticipate that Marinus Pharmaceuticals will post -2.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Eventide Asset Management LLC raised its stake in 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 buying an additional 1,356,800 shares during the period. Franklin Resources Inc. raised its stake in 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 buying an additional 49,589 shares during the period. Jennison Associates LLC raised its stake 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 worth $23,791,000 after buying an additional 1,089,913 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Marinus Pharmaceuticals by 6.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,904,476 shares of the biopharmaceutical company's stock worth $23,381,000 after buying an additional 173,226 shares during the period. Finally, Vanguard Group Inc. raised its stake in Marinus Pharmaceuticals by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,577,475 shares of the biopharmaceutical company's stock worth $20,749,000 after buying an additional 31,233 shares during the period. 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.