Royal Bank of Canada Trims Marinus Pharmaceuticals (NASDAQ:MRNS) Target Price to $1.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price objective cut by Royal Bank of Canada from $3.00 to $1.00 in a report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently commented on MRNS. Cantor Fitzgerald dropped their target price on Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Marinus Pharmaceuticals in a report on Wednesday, August 14th. Jefferies Financial Group reissued a “hold” rating and set a $0.50 target price (down previously from $5.00) on shares of Marinus Pharmaceuticals in a report on Friday. StockNews.com raised Marinus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Finally, EF Hutton Acquisition Co. I upgraded shares of Marinus Pharmaceuticals to a “strong-buy” rating in a report on Monday, September 30th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marinus Pharmaceuticals has a consensus rating of “Hold” and an average target price of $6.07.

Marinus Pharmaceuticals Trading Down 7.8 %

Shares of NASDAQ MRNS opened at $0.37 on Friday. The stock has a 50 day simple moving average of $1.52 and a 200-day simple moving average of $1.46. The company has a market cap of $20.57 million, a PE ratio of -0.14 and a beta of 1.14. Marinus Pharmaceuticals has a 12-month low of $0.26 and a 12-month high of $11.26.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MRNS. Point72 DIFC Ltd bought a new position in Marinus Pharmaceuticals in the second quarter worth $28,000. SG Americas Securities LLC bought a new position in shares of Marinus Pharmaceuticals in the second quarter worth about $34,000. AQR Capital Management LLC raised its stake in shares of Marinus Pharmaceuticals by 70.3% in the second quarter. AQR Capital Management LLC now owns 31,333 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 12,934 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Marinus Pharmaceuticals during the 1st quarter worth approximately $384,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Marinus Pharmaceuticals during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.