Truist Financial Trims Marinus Pharmaceuticals (NASDAQ:MRNS) Target Price to $10.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price target decreased by equities researchers at Truist Financial from $25.00 to $10.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Marinus Pharmaceuticals in a report on Tuesday. Robert W. Baird reiterated a “neutral” rating on shares of Marinus Pharmaceuticals in a report on Tuesday. Oppenheimer restated a “market perform” rating and issued a $9.00 price objective on shares of Marinus Pharmaceuticals in a report on Thursday, March 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price objective (down from $24.00) on shares of Marinus Pharmaceuticals in a report on Monday. Finally, StockNews.com lowered shares of Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Marinus Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $16.07.

Marinus Pharmaceuticals Price Performance

Marinus Pharmaceuticals stock opened at $1.44 on Wednesday. The firm has a market cap of $79.10 million, a PE ratio of -0.55 and a beta of 0.91. Marinus Pharmaceuticals has a 52-week low of $1.11 and a 52-week high of $11.26. The company has a quick ratio of 4.01, a current ratio of 4.07 and a debt-to-equity ratio of 5.68. The company’s 50 day moving average is $8.72 and its two-hundred day moving average is $8.45.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.10). The business had revenue of $7.19 million for the quarter, compared to analyst estimates of $7.78 million. Marinus Pharmaceuticals had a negative return on equity of 269.75% and a negative net margin of 456.31%. During the same quarter last year, the company earned ($0.76) earnings per share. On average, research analysts expect that Marinus Pharmaceuticals will post -2.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Marinus Pharmaceuticals by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 2,673,231 shares of the biopharmaceutical company’s stock worth $29,058,000 after purchasing an additional 95,756 shares during the last quarter. Wellington Management Group LLP grew its position in Marinus Pharmaceuticals by 54.8% during the 4th quarter. Wellington Management Group LLP now owns 241,299 shares of the biopharmaceutical company’s stock worth $2,623,000 after purchasing an additional 85,455 shares during the last quarter. Barclays PLC grew its position in Marinus Pharmaceuticals by 747.4% during the 4th quarter. Barclays PLC now owns 76,372 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 67,360 shares during the last quarter. Nuveen Asset Management LLC grew its position in Marinus Pharmaceuticals by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 139,752 shares of the biopharmaceutical company’s stock worth $1,519,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Marinus Pharmaceuticals by 124.1% during the 4th quarter. Royal Bank of Canada now owns 15,364 shares of the biopharmaceutical company’s stock worth $167,000 after purchasing an additional 8,507 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other 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.