Marinus Pharmaceuticals (MRNS) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Marinus Pharmaceuticals (NASDAQ:MRNS) from a hold rating to a sell rating in a research note published on Tuesday morning, 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. “

Other analysts also recently issued reports about the company. Cantor Fitzgerald reissued a buy rating and set a $22.00 price objective on shares of Marinus Pharmaceuticals in a research report on Wednesday, May 1st. LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $24.50 target price on shares of Marinus Pharmaceuticals in a research report on Wednesday, May 1st. ValuEngine raised Marinus Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 29th. Jefferies Financial Group assumed coverage on Marinus Pharmaceuticals in a research report on Tuesday, March 5th. They issued a buy rating and a $10.00 target price for the company. Finally, Mizuho downgraded Marinus Pharmaceuticals from a buy rating to a neutral rating and dropped their target price for the company from $13.00 to $5.00 in a research report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Marinus Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $14.94.

Shares of NASDAQ:MRNS opened at $4.50 on Tuesday. The stock has a market cap of $236.50 million, a P/E ratio of -5.00 and a beta of 3.25. Marinus Pharmaceuticals has a 12-month low of $2.36 and a 12-month high of $10.54.

Marinus Pharmaceuticals (NASDAQ:MRNS) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Analysts predict that Marinus Pharmaceuticals will post -0.84 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRNS. Wells Fargo & Company MN grew its position in Marinus Pharmaceuticals by 298.3% in the 3rd quarter. Wells Fargo & Company MN now owns 17,755 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 13,297 shares in the last quarter. BlackRock Inc. grew its position in shares of Marinus Pharmaceuticals by 9.8% during the third quarter. BlackRock Inc. now owns 2,910,405 shares of the biopharmaceutical company’s stock worth $29,103,000 after buying an additional 259,793 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Marinus Pharmaceuticals during the third quarter worth about $544,000. MetLife Investment Advisors LLC acquired a new position in shares of Marinus Pharmaceuticals during the third quarter worth about $292,000. Finally, Meeder Asset Management Inc. grew its position in shares of Marinus Pharmaceuticals by 1,082.4% during the fourth quarter. Meeder Asset Management Inc. now owns 10,819 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 9,904 shares in the last quarter. 65.39% of the stock is owned by institutional investors.

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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