Marinus Pharmaceuticals Inc (NASDAQ:MRNS) – Equities researchers at Cantor Fitzgerald dropped their FY2019 earnings estimates for Marinus Pharmaceuticals in a research report issued to clients and investors on Wednesday, March 13th. Cantor Fitzgerald analyst E. Piros now forecasts that the biopharmaceutical company will post earnings of ($0.89) per share for the year, down from their previous estimate of ($0.87). Cantor Fitzgerald has a “Buy” rating and a $22.00 price objective on the stock.
Several other equities analysts have also weighed in on MRNS. JMP Securities increased their price objective on Marinus Pharmaceuticals to $29.00 in a report on Monday, December 10th. Mizuho reissued a “buy” rating and set a $13.00 price objective on shares of Marinus Pharmaceuticals in a report on Tuesday, December 11th. LADENBURG THALM/SH SH set a $22.00 price objective on Marinus Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, December 11th. Zacks Investment Research raised Marinus Pharmaceuticals from a “sell” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Wednesday, January 2nd. Finally, Leerink Swann started coverage on Marinus Pharmaceuticals in a report on Wednesday, February 6th. They set an “outperform” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $14.63.
Marinus Pharmaceuticals (NASDAQ:MRNS) last issued its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.02.
In other news, CEO Christopher Michael Cashman sold 8,142 shares of Marinus Pharmaceuticals stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $3.13, for a total value of $25,484.46. Following the transaction, the chief executive officer now owns 239,761 shares in the company, valued at $750,451.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its stake in shares of Marinus Pharmaceuticals by 1,082.4% in the fourth quarter. Meeder Asset Management Inc. now owns 10,819 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,904 shares during the last quarter. Partner Investment Management L.P. bought a new stake in shares of Marinus Pharmaceuticals in the third quarter worth about $112,000. Gabelli Funds LLC bought a new stake in shares of Marinus Pharmaceuticals in the fourth quarter worth about $49,000. IPG Investment Advisors LLC bought a new stake in shares of Marinus Pharmaceuticals in the fourth quarter worth about $50,000. Finally, Wells Fargo & Company MN grew its stake in shares of Marinus Pharmaceuticals by 298.3% in the third quarter. Wells Fargo & Company MN now owns 17,755 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 13,297 shares during the last quarter. 84.65% of the stock is currently owned by institutional investors.
Marinus Pharmaceuticals Company Profile
Marinus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical stage product candidate, ganaxolone, is an allosteric modulator of GABAA, developed in three different dose forms: intravenous (IV), capsule, and liquid.
Further Reading: Technical Analysis
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