Marinus Pharmaceuticals (NASDAQ:MRNS) PT Lowered to $1.00 at Royal Bank of Canada

Marinus Pharmaceuticals (NASDAQ:MRNS) had its target price decreased by Royal Bank of Canada from $3.00 to $1.00 in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on MRNS. LADENBURG THALM/SH SH cut Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 14th. EF Hutton Acquisition Co. I raised Marinus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 30th. StockNews.com raised Marinus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. Cantor Fitzgerald reduced their price target on Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating for the company in a report on Friday. Finally, Oppenheimer raised Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Monday, September 23rd. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.07.

Marinus Pharmaceuticals Stock Up 36.9 %

NASDAQ:MRNS traded up $0.11 during mid-day trading on Friday, reaching $0.41. 43,511,731 shares of the stock were exchanged, compared to its average volume of 1,511,061. The company has a 50 day simple moving average of $1.54 and a 200-day simple moving average of $1.61. The stock has a market capitalization of $22.31 million, a P/E ratio of -0.15 and a beta of 1.14. Marinus Pharmaceuticals has a 1 year low of $0.26 and a 1 year high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). Marinus Pharmaceuticals had a negative return on equity of 7,831.35% and a negative net margin of 493.14%. The company had revenue of $8.06 million for the quarter, compared to analyst estimates of $9.05 million. During the same period in the previous year, the business posted ($0.61) earnings per share. As a group, research analysts predict that Marinus Pharmaceuticals will post -1.93 EPS for the current year.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in Marinus Pharmaceuticals in the 2nd quarter valued at approximately $28,000. SG Americas Securities LLC purchased a new position in Marinus Pharmaceuticals during the second quarter worth $34,000. AQR Capital Management LLC increased its position in Marinus Pharmaceuticals by 70.3% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 12,934 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Marinus Pharmaceuticals during the first quarter worth $384,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Marinus Pharmaceuticals during the second quarter worth $64,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.