StockNews.com Begins Coverage on Marinus Pharmaceuticals (NASDAQ:MRNS)

StockNews.com started coverage on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a research report issued on Thursday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on MRNS. Truist Financial cut shares of Marinus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $4.00 target price on shares of Marinus Pharmaceuticals in a research note on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $0.50 target price (down from $5.00) on shares of Marinus Pharmaceuticals in a research note on Friday, October 25th. Finally, HC Wainwright reissued a “neutral” rating and issued a $2.00 price target on shares of Marinus Pharmaceuticals in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marinus Pharmaceuticals has an average rating of “Hold” and a consensus target price of $4.79.

Marinus Pharmaceuticals Stock Performance

MRNS stock opened at $0.55 on Thursday. The stock has a market cap of $30.34 million, a P/E ratio of -0.22 and a beta of 1.03. The firm has a 50 day simple moving average of $0.43 and a 200 day simple moving average of $0.92. Marinus Pharmaceuticals has a 52 week low of $0.22 and a 52 week high of $10.50.

Hedge Funds Weigh In On Marinus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of MRNS. abrdn plc increased its position in Marinus Pharmaceuticals by 146.1% during the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after acquiring an additional 1,578,329 shares during the period. Suvretta Capital Management LLC increased its position in Marinus Pharmaceuticals by 32.8% during the third quarter. Suvretta Capital Management LLC now owns 5,073,913 shares of the biopharmaceutical company’s stock worth $8,930,000 after acquiring an additional 1,253,901 shares during the period. Franklin Resources Inc. increased its position in Marinus Pharmaceuticals by 34.9% during the third quarter. Franklin Resources Inc. now owns 4,713,014 shares of the biopharmaceutical company’s stock worth $8,483,000 after acquiring an additional 1,219,871 shares during the period. GSA Capital Partners LLP increased its position in Marinus Pharmaceuticals by 409.4% during the third quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock worth $1,789,000 after acquiring an additional 817,050 shares during the period. Finally, Deltec Asset Management LLC bought a new position in Marinus Pharmaceuticals during the fourth quarter worth $107,000. Institutional investors own 98.80% of the company’s stock.

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.