StockNews.com Initiates Coverage on Marinus Pharmaceuticals (NASDAQ:MRNS)

StockNews.com assumed coverage on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a report published on Sunday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald dropped their target price on Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial lowered shares of Marinus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. JMP Securities restated a “market perform” rating on shares of Marinus Pharmaceuticals in a research note on Thursday, October 24th. Jefferies Financial Group reaffirmed a “hold” rating and set a $0.50 price target (down previously from $5.00) on shares of Marinus Pharmaceuticals in a research note on Friday, October 25th. Finally, Royal Bank of Canada decreased their price objective on shares of Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating for the company in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.07.

Marinus Pharmaceuticals Stock Performance

NASDAQ MRNS opened at $0.30 on Friday. Marinus Pharmaceuticals has a one year low of $0.26 and a one year high of $11.26. The company’s 50 day moving average price is $1.28 and its 200 day moving average price is $1.34.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.02. Marinus Pharmaceuticals had a negative net margin of 446.48% and a negative return on equity of 7,831.35%. The business had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.95 million. Equities analysts anticipate that Marinus Pharmaceuticals will post -1.92 earnings per share for the current year.

Hedge Funds Weigh In On Marinus Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Marinus Pharmaceuticals during the second quarter valued at approximately $727,000. Vanguard Group Inc. lifted its stake in Marinus Pharmaceuticals by 5.0% during the first quarter. Vanguard Group Inc. now owns 2,805,920 shares of the biopharmaceutical company’s stock worth $25,366,000 after purchasing an additional 132,689 shares during the last quarter. Acadian Asset Management LLC bought a new position in Marinus Pharmaceuticals during the second quarter worth $813,000. Hussman Strategic Advisors Inc. boosted its holdings in Marinus Pharmaceuticals by 14.3% in the second quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 10,500 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Marinus Pharmaceuticals during the second quarter valued at $206,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.