Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Receives $8.83 Consensus Price Target from Analysts

Shares of Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) have earned an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.07.

MRNS has been the subject of several analyst reports. Oppenheimer upgraded Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 target price for the company in a research report on Monday, September 23rd. Jefferies Financial Group reissued a “hold” rating and set a $0.50 price objective (down from $5.00) on shares of Marinus Pharmaceuticals in a report on Friday. Cantor Fitzgerald lowered their target price on shares of Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen reiterated a “hold” rating on shares of Marinus Pharmaceuticals in a research report on Friday. Finally, HC Wainwright restated a “neutral” rating on shares of Marinus Pharmaceuticals in a research report on Friday.

Marinus Pharmaceuticals Stock Performance

NASDAQ:MRNS opened at $0.41 on Friday. The company has a 50-day moving average of $1.54 and a 200-day moving average of $1.56. Marinus Pharmaceuticals has a 52 week low of $0.26 and a 52 week high of $11.26. The company has a market capitalization of $22.31 million, a price-to-earnings ratio of -0.15 and a beta of 1.14.

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

Hedge Funds Weigh In On Marinus Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. abrdn plc increased its holdings in shares of Marinus Pharmaceuticals by 146.1% in the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock valued at $4,679,000 after purchasing an additional 1,578,329 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Marinus Pharmaceuticals by 70.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 444,185 shares of the biopharmaceutical company’s stock valued at $782,000 after buying an additional 183,396 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Marinus Pharmaceuticals in the 2nd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Marinus Pharmaceuticals during the second quarter worth $64,000. Finally, AQR Capital Management LLC lifted its stake in shares of Marinus Pharmaceuticals by 70.3% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 12,934 shares during the period. 98.80% of the stock is owned by 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.