Truist Financial Reaffirms “Buy” Rating for Marinus Pharmaceuticals (NASDAQ:MRNS)

Marinus Pharmaceuticals (NASDAQ:MRNS)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a report issued on Tuesday, Benzinga reports. They currently have a $10.00 price target on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target (down from $24.00) on shares of Marinus Pharmaceuticals in a research note on Monday, April 15th. Robert W. Baird reissued a “neutral” rating on shares of Marinus Pharmaceuticals in a research note on Tuesday, April 16th. StockNews.com cut Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Marinus Pharmaceuticals in a research note on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price objective on shares of Marinus Pharmaceuticals in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.79.

Marinus Pharmaceuticals Price Performance

Shares of Marinus Pharmaceuticals stock opened at $1.40 on Tuesday. The stock has a market cap of $76.63 million, a price-to-earnings ratio of -0.53 and a beta of 1.11. The company has a debt-to-equity ratio of 5.68, a quick ratio of 2.93 and a current ratio of 3.07. The stock has a 50 day moving average price of $1.67 and a 200-day moving average price of $6.78. Marinus Pharmaceuticals has a one year low of $1.11 and a one year high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.68). Marinus Pharmaceuticals had a negative return on equity of 518.13% and a negative net margin of 513.80%. The company had revenue of $7.68 million during the quarter, compared to the consensus estimate of $8.61 million. Equities analysts expect that Marinus Pharmaceuticals will post -1.87 EPS for the current year.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Eventide Asset Management LLC raised its holdings in shares of Marinus Pharmaceuticals by 42.8% in the third quarter. Eventide Asset Management LLC now owns 4,529,997 shares of the biopharmaceutical company’s stock valued at $36,466,000 after acquiring an additional 1,356,800 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Marinus Pharmaceuticals by 31.4% in the 1st quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock valued at $37,431,000 after purchasing an additional 990,607 shares in the last quarter. abrdn plc purchased a new stake in shares of Marinus Pharmaceuticals in the 4th quarter worth approximately $6,006,000. Superstring Capital Management LP purchased a new stake in shares of Marinus Pharmaceuticals in the 4th quarter worth approximately $5,027,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of 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 in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Marinus Pharmaceuticals Company Profile

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.