Marinus Pharmaceuticals’ (MRNS) Hold Rating Reaffirmed at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a report issued on Friday, Benzinga reports.

A number of other research analysts have also issued reports on the stock. StockNews.com upgraded shares of Marinus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada dropped their target price on Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating on the stock in a research report on Friday. 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. JMP Securities reaffirmed a “market perform” rating on shares of Marinus Pharmaceuticals in a report on Thursday, October 24th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $0.50 target price (down previously from $5.00) on shares of Marinus Pharmaceuticals in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.07.

Marinus Pharmaceuticals Stock Performance

Shares of MRNS stock opened at $0.37 on Friday. The stock’s 50-day moving average price is $1.54 and its 200 day moving average price is $1.51. Marinus Pharmaceuticals has a 52-week low of $0.26 and a 52-week high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.01). The company had revenue of $8.06 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned ($0.61) EPS. As a group, equities research analysts anticipate that Marinus Pharmaceuticals will post -1.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Marinus Pharmaceuticals by 54.8% in the fourth quarter. Wellington Management Group LLP now owns 241,299 shares of the biopharmaceutical company’s stock valued at $2,623,000 after purchasing an additional 85,455 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Marinus Pharmaceuticals during the 1st quarter valued at $664,000. Vanguard Group Inc. grew its holdings in Marinus Pharmaceuticals by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 2,805,920 shares of the biopharmaceutical company’s stock valued at $25,366,000 after buying an additional 132,689 shares during the last quarter. Avoro Capital Advisors LLC increased its position in Marinus Pharmaceuticals by 31.4% during the first quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock worth $37,431,000 after buying an additional 990,607 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Marinus Pharmaceuticals in the first quarter worth $384,000. Hedge funds and other 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.