Royal Bank of Canada Cuts Marinus Pharmaceuticals (NASDAQ:MRNS) Price Target to $1.00

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

A number of other analysts also recently issued reports on MRNS. LADENBURG THALM/SH SH downgraded shares of Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Marinus Pharmaceuticals in a research report on Wednesday, August 14th. Oppenheimer raised shares of 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 target price (down previously from $5.00) on shares of Marinus Pharmaceuticals in a research report on Friday. Finally, Cantor Fitzgerald dropped their target price on shares of Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating for the company in a research report on Friday. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.07.

Marinus Pharmaceuticals Price Performance

NASDAQ MRNS opened at $0.41 on Friday. Marinus Pharmaceuticals has a 12 month low of $0.26 and a 12 month high of $11.26. The company has a 50-day moving average of $1.54 and a 200-day moving average of $1.56. The company has a market cap of $22.31 million, a P/E ratio of -0.15 and a beta of 1.14.

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

Institutional Trading of Marinus Pharmaceuticals

Several large investors have recently bought and sold shares of MRNS. Wellington Management Group LLP boosted its stake in shares of Marinus Pharmaceuticals by 54.8% during the 4th quarter. Wellington Management Group LLP now owns 241,299 shares of the biopharmaceutical company’s stock valued at $2,623,000 after buying an additional 85,455 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Marinus Pharmaceuticals during the 1st quarter valued at approximately $664,000. Vanguard Group Inc. boosted its stake in shares of 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 boosted its stake in shares of Marinus Pharmaceuticals by 31.4% during 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 buying an additional 990,607 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Marinus Pharmaceuticals during the 1st quarter valued at approximately $384,000. Institutional investors and hedge funds 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.