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

Equities researchers at StockNews.com initiated coverage on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a report issued on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group restated a “hold” rating and set a $0.50 target price (down previously from $5.00) on shares of Marinus Pharmaceuticals in a research report on Friday, October 25th. JMP Securities reissued a “market perform” rating on shares of Marinus Pharmaceuticals in a research note on Thursday, October 24th. EF Hutton Acquisition Co. I upgraded shares of Marinus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Oppenheimer upgraded shares of Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Monday, September 23rd. Nine investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.79.

Marinus Pharmaceuticals Stock Performance

Marinus Pharmaceuticals stock opened at $0.23 on Friday. The firm has a market cap of $12.69 million, a price-to-earnings ratio of -0.09 and a beta of 1.25. Marinus Pharmaceuticals has a 52-week low of $0.23 and a 52-week high of $11.26. The firm has a 50 day moving average price of $0.54 and a two-hundred day moving average price of $1.12.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Suvretta Capital Management LLC increased its holdings in Marinus Pharmaceuticals by 32.8% during the 3rd quarter. Suvretta Capital Management LLC now owns 5,073,913 shares of the biopharmaceutical company’s stock worth $8,930,000 after purchasing an additional 1,253,901 shares in the last quarter. Franklin Resources Inc. grew its holdings 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 buying an additional 1,219,871 shares in the last quarter. abrdn plc raised its position in Marinus Pharmaceuticals by 146.1% in the 3rd quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock valued at $4,679,000 after buying an additional 1,578,329 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Marinus Pharmaceuticals by 409.4% during the 3rd 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 last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Marinus Pharmaceuticals in the second quarter valued at about $813,000. 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.