TD Cowen Reiterates Hold Rating for Marinus Pharmaceuticals (NASDAQ:MRNS)

Marinus Pharmaceuticals (NASDAQ:MRNS)‘s stock had its “hold” rating reaffirmed by TD Cowen in a report released on Friday, Benzinga reports.

Several other research firms have also issued reports on MRNS. Cantor Fitzgerald dropped their price target on shares of Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating on the stock in a research report on Friday. JMP Securities reiterated a “market perform” rating on shares of Marinus Pharmaceuticals in a report on Thursday. EF Hutton Acquisition Co. I upgraded Marinus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, September 30th. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of Marinus Pharmaceuticals in a research note on Wednesday, August 14th. Finally, LADENBURG THALM/SH SH cut Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marinus Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $6.07.

Marinus Pharmaceuticals Price Performance

Shares of NASDAQ MRNS opened at $0.41 on Friday. Marinus Pharmaceuticals has a fifty-two week low of $0.26 and a fifty-two week high of $11.26. The stock has a market capitalization of $22.31 million, a price-to-earnings ratio of -0.15 and a beta of 1.14. The business has a 50-day moving average of $1.54 and a 200-day moving average of $1.61.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.01). Marinus Pharmaceuticals had a negative return on equity of 7,831.35% and a negative net margin of 493.14%. The company had revenue of $8.06 million for the quarter, compared to analyst estimates of $9.05 million. During the same period last year, the firm earned ($0.61) EPS. On average, sell-side analysts expect that Marinus Pharmaceuticals will post -1.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. abrdn plc raised its position in shares of Marinus Pharmaceuticals by 146.1% in the third 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 in the last quarter. Avoro Capital Advisors LLC increased its stake in Marinus Pharmaceuticals by 31.4% during the 1st quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock worth $37,431,000 after acquiring an additional 990,607 shares during the period. Acadian Asset Management LLC acquired a new position in Marinus Pharmaceuticals in the 2nd quarter valued at $813,000. Renaissance Technologies LLC bought a new stake in shares of Marinus Pharmaceuticals during the 2nd quarter valued at $727,000. Finally, XTX Topco Ltd acquired a new stake in shares of Marinus Pharmaceuticals during the 2nd quarter worth $232,000. 98.80% of the stock is owned by institutional investors and hedge funds.

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.