Marinus Pharmaceuticals (NASDAQ:MRNS) Given New $4.00 Price Target at JMP Securities

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price target lifted by JMP Securities from $7.00 to $4.00 in a research note released on Tuesday, The Fly reports.

A number of other research analysts have also recently weighed in on MRNS. SVB Leerink boosted their price objective on shares of Marinus Pharmaceuticals from $6.00 to $8.00 and gave the company an outperform rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Marinus Pharmaceuticals from $4.00 to $6.00 and gave the company a buy rating in a research report on Tuesday. Cantor Fitzgerald boosted their price objective on shares of Marinus Pharmaceuticals from $6.00 to $8.00 and gave the company an overweight rating in a research report on Tuesday. Cowen began coverage on shares of Marinus Pharmaceuticals in a research report on Wednesday, July 1st. They set an outperform rating on the stock. Finally, LADENBURG THALM/SH SH reiterated a buy rating and set a $4.50 price objective on shares of Marinus Pharmaceuticals in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $5.83.

MRNS traded down $0.12 during trading hours on Tuesday, hitting $3.08. The company’s stock had a trading volume of 135,115 shares, compared to its average volume of 2,325,394. The business’s 50-day moving average price is $1.86 and its 200-day moving average price is $2.13. Marinus Pharmaceuticals has a 12 month low of $1.01 and a 12 month high of $4.07. The stock has a market cap of $391.02 million, a price-to-earnings ratio of -3.20 and a beta of 2.00.

Marinus Pharmaceuticals (NASDAQ:MRNS) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. As a group, equities analysts predict that Marinus Pharmaceuticals will post -0.74 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Marinus Pharmaceuticals during the second quarter valued at $26,000. Jane Street Group LLC purchased a new stake in Marinus Pharmaceuticals in the second quarter worth about $26,000. ProShare Advisors LLC purchased a new stake in Marinus Pharmaceuticals in the second quarter worth about $29,000. Royal Bank of Canada lifted its stake in Marinus Pharmaceuticals by 29,737.9% in the first quarter. Royal Bank of Canada now owns 17,306 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 17,248 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Marinus Pharmaceuticals in the second quarter worth about $36,000. 74.45% of the stock is owned by hedge funds and other 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 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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