Zacks Investment Research Lowers Marinus Pharmaceuticals (NASDAQ:MRNS) to Hold

Marinus Pharmaceuticals (NASDAQ:MRNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Marinus Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company. It is focused on developing and commercializing therapeutics for the treatment of epilepsy and other targeted neurological, behavioral and psychiatric disorders. The Company offers Ganaxolone which has completed Phase II clinical trial for the treatment of patients with refractory focal onset seizures. Marinus Pharmaceuticals, Inc. is headquartered in New Haven, Connecticut. “

Several other equities research analysts also recently weighed in on MRNS. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $5.00 price target on shares of Marinus Pharmaceuticals in a report on Thursday, September 26th. ValuEngine upgraded Marinus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, October 7th. HC Wainwright began coverage on Marinus Pharmaceuticals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Mizuho reduced their price target on Marinus Pharmaceuticals from $5.00 to $1.70 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.56.

NASDAQ:MRNS opened at $1.44 on Thursday. The firm has a market capitalization of $75.71 million, a price-to-earnings ratio of -1.60 and a beta of 2.89. Marinus Pharmaceuticals has a 1 year low of $0.77 and a 1 year high of $6.95. The business has a 50 day simple moving average of $1.44 and a 200-day simple moving average of $3.12.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). On average, analysts expect that Marinus Pharmaceuticals will post -0.94 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. purchased a new stake in shares of Marinus Pharmaceuticals in the second quarter worth approximately $76,000. Wells Fargo & Company MN increased its holdings in Marinus Pharmaceuticals by 199.6% during the 2nd quarter. Wells Fargo & Company MN now owns 52,642 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 35,072 shares during the period. Rhumbline Advisers increased its holdings in Marinus Pharmaceuticals by 15.8% during the 1st quarter. Rhumbline Advisers now owns 55,755 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 7,592 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Marinus Pharmaceuticals by 32.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 126,761 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 31,260 shares during the period. Finally, Morgan Stanley increased its holdings in Marinus Pharmaceuticals by 1,679.6% during the 2nd quarter. Morgan Stanley now owns 187,889 shares of the biopharmaceutical company’s stock worth $780,000 after purchasing an additional 177,331 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

About Marinus Pharmaceuticals

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 dose forms, including intravenous (IV), oral capsule, and oral liquid for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.

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