Truist Financial Lowers Marinus Pharmaceuticals (NASDAQ:MRNS) Price Target to $10.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price objective cut by equities researchers at Truist Financial from $25.00 to $10.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the company. Robert W. Baird restated a “neutral” rating on shares of Marinus Pharmaceuticals in a research report on Tuesday. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marinus Pharmaceuticals in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of Marinus Pharmaceuticals in a research report on Wednesday, April 10th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target (down from $24.00) on shares of Marinus Pharmaceuticals in a research report on Monday. Finally, Oppenheimer restated a “market perform” rating and set a $9.00 price target on shares of Marinus Pharmaceuticals in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.07.

Marinus Pharmaceuticals Stock Performance

Shares of MRNS opened at $1.41 on Wednesday. The stock’s 50-day simple moving average is $8.55 and its 200 day simple moving average is $8.40. The stock has a market capitalization of $77.45 million, a price-to-earnings ratio of -0.54 and a beta of 0.91. The company has a debt-to-equity ratio of 5.68, a quick ratio of 4.01 and a current ratio of 4.07. Marinus Pharmaceuticals has a 52-week low of $1.11 and a 52-week high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings results 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 business had revenue of $7.19 million during the quarter, compared to analysts’ expectations 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 business earned ($0.76) EPS. Research analysts forecast that Marinus Pharmaceuticals will post -2.37 EPS for the current fiscal year.

Institutional Trading of Marinus Pharmaceuticals

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Marinus Pharmaceuticals by 1.2% during the third quarter. Vanguard Group Inc. now owns 2,577,475 shares of the biopharmaceutical company’s stock valued at $20,749,000 after purchasing an additional 31,233 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in Marinus Pharmaceuticals by 69.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 253,412 shares of the biopharmaceutical company’s stock valued at $2,040,000 after purchasing an additional 103,935 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Marinus Pharmaceuticals by 6.3% during the third 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 period. Jennison Associates LLC grew its holdings in Marinus Pharmaceuticals by 58.4% during the third 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 during the period. Finally, SG Americas Securities LLC bought a new stake in Marinus Pharmaceuticals during the fourth quarter valued at about $134,000. 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.