Truist Financial Reaffirms “Buy” Rating for Marinus Pharmaceuticals (NASDAQ:MRNS)

Truist Financial reissued their buy rating on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a research report report published on Tuesday, Benzinga reports. Truist Financial currently has a $10.00 target price on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a buy rating and issued a $11.00 target price on shares of Marinus Pharmaceuticals in a report on Tuesday. Robert W. Baird reissued a neutral rating on shares of Marinus Pharmaceuticals in a research note on Tuesday, April 16th. StockNews.com cut shares of Marinus Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, March 6th. Cantor Fitzgerald reiterated an overweight rating and set a $28.00 price target on shares of Marinus Pharmaceuticals in a report on Wednesday, April 10th. Finally, Oppenheimer reissued a market perform rating and issued a $9.00 price objective on shares of Marinus Pharmaceuticals in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Marinus Pharmaceuticals presently has a consensus rating of Hold and an average target price of $13.79.

Marinus Pharmaceuticals Price Performance

MRNS stock opened at $1.33 on Tuesday. The company has a fifty day simple moving average of $1.42 and a two-hundred day simple moving average of $6.70. Marinus Pharmaceuticals has a 52 week low of $1.11 and a 52 week high of $11.26. The company has a quick ratio of 2.93, a current ratio of 3.07 and a debt-to-equity ratio of 5.68. The firm has a market capitalization of $73.06 million, a P/E ratio of -0.50 and a beta of 1.11.

Marinus Pharmaceuticals (NASDAQ:MRNS) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) EPS for the quarter, meeting analysts’ consensus estimates of ($0.68). Marinus Pharmaceuticals had a negative net margin of 513.80% and a negative return on equity of 518.13%. The firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $8.61 million. Analysts anticipate that Marinus Pharmaceuticals will post -1.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marinus Pharmaceuticals

A number of institutional investors have recently modified their holdings of MRNS. Eventide Asset Management LLC grew its stake in Marinus Pharmaceuticals by 42.8% in the third quarter. Eventide Asset Management LLC now owns 4,529,997 shares of the biopharmaceutical company’s stock worth $36,466,000 after purchasing an additional 1,356,800 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Marinus Pharmaceuticals by 31.4% in the first quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock valued at $37,431,000 after acquiring an additional 990,607 shares in the last quarter. abrdn plc purchased a new stake in Marinus Pharmaceuticals in the fourth quarter worth about $6,006,000. Superstring Capital Management LP bought a new position in Marinus Pharmaceuticals during the 4th quarter worth about $5,027,000. Finally, Adage Capital Partners GP L.L.C. increased its position in Marinus Pharmaceuticals by 6.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,904,476 shares of the biopharmaceutical company’s stock valued at $23,381,000 after purchasing an additional 173,226 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

Marinus Pharmaceuticals Company Profile

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.