StockNews.com Initiates Coverage on Marinus Pharmaceuticals (NASDAQ:MRNS)

Analysts at StockNews.com started coverage on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on MRNS. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Marinus Pharmaceuticals in a report on Thursday, November 14th. Truist Financial downgraded Marinus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. TD Cowen reissued a “hold” rating on shares of Marinus Pharmaceuticals in a report on Friday, October 25th. Royal Bank of Canada decreased their price target on Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $0.50 price objective (down from $5.00) on shares of Marinus Pharmaceuticals in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marinus Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $4.79.

Marinus Pharmaceuticals Price Performance

Shares of MRNS stock opened at $0.55 on Tuesday. Marinus Pharmaceuticals has a one year low of $0.22 and a one year high of $10.50. The stock has a fifty day moving average price of $0.38 and a 200 day moving average price of $0.98. The stock has a market cap of $30.09 million, a P/E ratio of -0.22 and a beta of 1.03.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC lifted its position in shares of Marinus Pharmaceuticals by 32.8% during the third quarter. Suvretta Capital Management LLC now owns 5,073,913 shares of the biopharmaceutical company’s stock worth $8,930,000 after purchasing an additional 1,253,901 shares in the last quarter. Franklin Resources Inc. raised its position in Marinus Pharmaceuticals by 34.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,713,014 shares of the biopharmaceutical company’s stock worth $8,483,000 after purchasing an additional 1,219,871 shares during the last quarter. abrdn plc lifted its holdings in Marinus Pharmaceuticals by 146.1% during the 3rd quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after buying an additional 1,578,329 shares in the last quarter. GSA Capital Partners LLP boosted its position in Marinus Pharmaceuticals by 409.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock valued at $1,789,000 after buying an additional 817,050 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Marinus Pharmaceuticals in the 2nd quarter valued at $727,000. 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.