HC Wainwright Trims Marinus Pharmaceuticals (NASDAQ:MRNS) Target Price to $11.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its target price dropped by equities research analysts at HC Wainwright from $27.00 to $11.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on MRNS. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Marinus Pharmaceuticals in a research report on Wednesday, April 10th. Oppenheimer reaffirmed a “market perform” rating and issued a $9.00 price target on shares of Marinus Pharmaceuticals in a research note on Thursday, March 7th. 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, April 15th. StockNews.com lowered shares of Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, Truist Financial decreased their price target on shares of Marinus Pharmaceuticals from $25.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.79.

Marinus Pharmaceuticals Price Performance

MRNS stock opened at $1.43 on Tuesday. The company has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $7.84. 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 firm has a market capitalization of $78.55 million, a P/E ratio of -0.54 and a beta of 1.14.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.10). Marinus Pharmaceuticals had a negative return on equity of 269.75% and a negative net margin of 456.31%. The company had revenue of $7.19 million during the quarter, compared to analysts’ expectations of $7.78 million. During the same quarter in the prior year, the business posted ($0.76) EPS. Analysts anticipate that Marinus Pharmaceuticals will post -2.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in shares of Marinus Pharmaceuticals by 58.4% in the 3rd quarter. Jennison Associates LLC now owns 2,955,343 shares of the biopharmaceutical company’s stock worth $23,791,000 after purchasing an additional 1,089,913 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Marinus Pharmaceuticals by 61.2% during the third quarter. Victory Capital Management Inc. now owns 94,550 shares of the biopharmaceutical company’s stock valued at $761,000 after acquiring an additional 35,890 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of Marinus Pharmaceuticals in the 3rd quarter valued at approximately $621,000. Sherbrooke Park Advisers LLC acquired a new stake in Marinus Pharmaceuticals in the 3rd quarter worth approximately $141,000. Finally, Schonfeld Strategic Advisors LLC grew its position in Marinus Pharmaceuticals by 69.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 253,412 shares of the biopharmaceutical company’s stock worth $2,040,000 after purchasing an additional 103,935 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.