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

Equities researchers at StockNews.com assumed coverage on shares of Marinus Pharmaceuticals (NASDAQ:MRNS) in a research note issued to investors on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on the company. LADENBURG THALM/SH SH cut shares of Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 price objective on shares of Marinus Pharmaceuticals in a report on Thursday, November 14th. Truist Financial downgraded Marinus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Royal Bank of Canada decreased their price target on Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $0.50 price objective (down from $5.00) on shares of Marinus Pharmaceuticals in a research note on Friday, October 25th. Nine analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marinus Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $4.79.

Marinus Pharmaceuticals Price Performance

Shares of NASDAQ:MRNS opened at $0.31 on Monday. Marinus Pharmaceuticals has a one year low of $0.26 and a one year high of $11.26. The company has a market cap of $16.97 million, a price-to-earnings ratio of -0.12 and a beta of 1.26. The firm has a 50 day simple moving average of $1.20 and a 200 day simple moving average of $1.30.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. abrdn plc boosted its holdings in Marinus Pharmaceuticals by 146.1% during the 3rd quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after acquiring an additional 1,578,329 shares during the last quarter. Suvretta Capital Management LLC boosted its holdings in Marinus Pharmaceuticals by 32.8% during the third 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 during the last quarter. Avoro Capital Advisors LLC grew its position in Marinus Pharmaceuticals by 31.4% in the 1st quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock worth $37,431,000 after purchasing an additional 990,607 shares in the last quarter. GSA Capital Partners LLP increased its stake in Marinus Pharmaceuticals by 409.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock valued at $1,789,000 after buying an additional 817,050 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Marinus Pharmaceuticals during the 2nd quarter worth approximately $813,000. 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.