Marinus Pharmaceuticals Inc. (NASDAQ:MRNS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $1.25 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price target indicates a potential upside of 7.76% from the stock’s current price.
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. “
Separately, Jefferies Group reaffirmed a “buy” rating and set a $3.00 target price on shares of Marinus Pharmaceuticals in a research note on Monday, October 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Marinus Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $7.85.
Marinus Pharmaceuticals (NASDAQ:MRNS) remained flat at $1.16 on Tuesday. 114,028 shares of the company were exchanged. The firm’s market cap is $22.86 million. The firm has a 50-day moving average of $1.26 and a 200 day moving average of $2.12. Marinus Pharmaceuticals has a one year low of $1.02 and a one year high of $8.12.
Marinus Pharmaceuticals (NASDAQ:MRNS) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.10. On average, analysts forecast that Marinus Pharmaceuticals will post ($1.48) EPS for the current fiscal year.
In related news, major shareholder Anand Mehra sold 750,683 shares of the business’s stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $1.39, for a total value of $1,043,449.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in MRNS. Panagora Asset Management Inc. bought a new stake in shares of Marinus Pharmaceuticals during the third quarter worth about $102,000. Susquehanna International Group LLP bought a new stake in shares of Marinus Pharmaceuticals during the third quarter worth about $105,000. Sphera Funds Management LTD. raised its position in shares of Marinus Pharmaceuticals by 14.5% in the third quarter. Sphera Funds Management LTD. now owns 1,340,588 shares of the biopharmaceutical company’s stock worth $2,440,000 after buying an additional 169,945 shares during the period. KCG Holdings Inc. acquired a new position in shares of Marinus Pharmaceuticals during the third quarter worth approximately $164,000. Finally, Vanguard Group Inc. raised its position in shares of Marinus Pharmaceuticals by 2.8% in the second quarter. Vanguard Group Inc. now owns 283,380 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 7,618 shares during the period. 33.15% of the stock is owned by hedge funds and other institutional investors.
Marinus Pharmaceuticals Company Profile
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.