Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) was up 12.4% during trading on Tuesday . The stock traded as high as $6.50 and last traded at $6.33. Approximately 2,421,498 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 1,805,380 shares. The stock had previously closed at $5.63.
Several equities research analysts have commented on MRNS shares. JMP Securities restated an “outperform” rating and issued a $11.00 target price (up previously from $5.00) on shares of Marinus Pharmaceuticals in a research note on Tuesday, September 12th. ValuEngine upgraded Marinus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th.
The company’s market cap is $159.58 million. The firm has a 50-day moving average of $4.52 and a 200-day moving average of $2.32.
Marinus Pharmaceuticals (NASDAQ:MRNS) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.06. On average, equities research analysts forecast that Marinus Pharmaceuticals, Inc. will post ($0.74) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of MRNS. KCG Holdings Inc. lifted its holdings in shares of Marinus Pharmaceuticals by 29.5% in the first quarter. KCG Holdings Inc. now owns 64,539 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 14,692 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Marinus Pharmaceuticals by 108.1% in the second quarter. Jennison Associates LLC now owns 811,665 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 421,600 shares in the last quarter. Finally, Nexthera Capital LP bought a new position in shares of Marinus Pharmaceuticals in the first quarter valued at approximately $1,416,000. Institutional investors own 23.61% of the company’s stock.
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About Marinus Pharmaceuticals
Marinus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical-stage product candidate, ganaxolone, is a modulator being developed in various dose forms, including intravenous, oral capsule and oral liquid, intended to provide more treatment options to adult and pediatric patient populations in both acute and chronic care settings.
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