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

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price objective cut by research analysts at Truist Financial from $25.00 to $10.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock.

Several other brokerages have also weighed in on MRNS. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective (down from $24.00) on shares of Marinus Pharmaceuticals in a research report on Monday. StockNews.com downgraded shares of Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Marinus Pharmaceuticals in a research note on Tuesday. Robert W. Baird restated a “neutral” rating on shares of Marinus Pharmaceuticals in a research note on Tuesday. Finally, Oppenheimer restated a “market perform” rating and issued a $9.00 price target on shares of Marinus Pharmaceuticals in a research note on Thursday, March 7th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.07.

Marinus Pharmaceuticals Stock Performance

Shares of MRNS opened at $1.41 on Wednesday. The company has a current ratio of 4.07, a quick ratio of 4.01 and a debt-to-equity ratio of 5.68. The firm has a fifty day simple moving average of $8.55 and a 200 day simple moving average of $8.40. Marinus Pharmaceuticals has a 12 month low of $1.11 and a 12 month high of $11.26. The stock has a market capitalization of $77.45 million, a price-to-earnings ratio of -0.54 and a beta of 0.91.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.10). The firm had revenue of $7.19 million for 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 period last year, the company posted ($0.76) earnings per share. Research analysts forecast that Marinus Pharmaceuticals will post -2.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Eventide Asset Management LLC boosted its stake in shares of Marinus Pharmaceuticals by 42.8% in the 3rd quarter. Eventide Asset Management LLC now owns 4,529,997 shares of the biopharmaceutical company’s stock valued at $36,466,000 after purchasing an additional 1,356,800 shares in the last quarter. Lion Point Capital LP boosted its stake in shares of Marinus Pharmaceuticals by 14.6% in the 4th quarter. Lion Point Capital LP now owns 4,222,648 shares of the biopharmaceutical company’s stock valued at $21,480,000 after purchasing an additional 538,026 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Marinus Pharmaceuticals by 245.4% in the 2nd quarter. BlackRock Inc. now owns 3,897,770 shares of the biopharmaceutical company’s stock valued at $42,330,000 after purchasing an additional 2,769,357 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Marinus Pharmaceuticals by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 3,833,955 shares of the biopharmaceutical company’s stock valued at $41,675,000 after purchasing an additional 49,589 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Marinus Pharmaceuticals in the 4th quarter valued at approximately $13,990,000. 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.