FY2024 EPS Estimates for Marinus Pharmaceuticals, Inc. Reduced by Cantor Fitzgerald (NASDAQ:MRNS)

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) – Stock analysts at Cantor Fitzgerald lowered their FY2024 earnings estimates for Marinus Pharmaceuticals in a report issued on Tuesday, April 16th. Cantor Fitzgerald analyst C. Duncan now anticipates that the biopharmaceutical company will earn ($2.32) per share for the year, down from their prior forecast of ($2.13). Cantor Fitzgerald currently has a “Overweight” rating and a $28.00 price objective on the stock. The consensus estimate for Marinus Pharmaceuticals’ current full-year earnings is ($2.37) per share.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target (down from $24.00) on shares of Marinus Pharmaceuticals in a research report on Monday. Truist Financial dropped their target price on shares of Marinus Pharmaceuticals from $25.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird restated a “neutral” rating on shares of Marinus Pharmaceuticals in a research report on Tuesday. StockNews.com lowered shares of Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Marinus Pharmaceuticals in a research report on Tuesday. 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, the stock presently has an average rating of “Hold” and an average price target of $16.07.

Marinus Pharmaceuticals Stock Performance

MRNS opened at $1.41 on Thursday. The firm has a market cap of $77.45 million, a P/E ratio of -0.54 and a beta of 0.91. Marinus Pharmaceuticals has a 1-year low of $1.11 and a 1-year high of $11.26. The company has a 50 day simple moving average of $8.55 and a two-hundred day simple moving average of $8.40. The company has a debt-to-equity ratio of 5.68, a current ratio of 4.07 and a quick ratio of 4.01.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.10). The firm had revenue of $7.19 million during the quarter, compared to the consensus estimate 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 in the previous year, the company earned ($0.76) earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of Marinus Pharmaceuticals in the 4th quarter valued at approximately $13,990,000. BlackRock Inc. boosted its stake in Marinus Pharmaceuticals by 245.4% during the second quarter. BlackRock Inc. now owns 3,897,770 shares of the biopharmaceutical company’s stock worth $42,330,000 after buying an additional 2,769,357 shares during the period. Eventide Asset Management LLC increased its position in Marinus Pharmaceuticals by 42.8% during 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 during the last quarter. Jennison Associates LLC raised its stake in shares of Marinus Pharmaceuticals by 58.4% in the third quarter. Jennison Associates LLC now owns 2,955,343 shares of the biopharmaceutical company’s stock valued at $23,791,000 after acquiring an additional 1,089,913 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Marinus Pharmaceuticals by 415.7% in the 4th quarter. Millennium Management LLC now owns 1,082,759 shares of the biopharmaceutical company’s stock worth $4,309,000 after acquiring an additional 872,782 shares during the last quarter. 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.