Marinus Pharmaceuticals (NASDAQ:MRNS) Coverage Initiated at StockNews.com

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

A number of other analysts have also recently weighed in on the stock. HC Wainwright reiterated a “neutral” rating and set a $2.00 price target on shares of Marinus Pharmaceuticals in a research note on Thursday, November 14th. Royal Bank of Canada decreased their price target on shares of 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. Jefferies Financial Group reiterated a “hold” rating and set a $0.50 price target (down previously from $5.00) on shares of Marinus Pharmaceuticals in a research note on Friday, October 25th. JMP Securities reiterated a “market perform” rating on shares of Marinus Pharmaceuticals in a research note on Thursday, October 24th. Finally, TD Cowen reiterated a “hold” rating on shares of Marinus Pharmaceuticals in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.79.

Marinus Pharmaceuticals Price Performance

NASDAQ MRNS opened at $0.55 on Friday. The firm’s fifty day moving average price is $0.45 and its 200 day moving average price is $0.89. The company has a market capitalization of $30.32 million, a price-to-earnings ratio of -0.22 and a beta of 1.03. Marinus Pharmaceuticals has a 12 month low of $0.22 and a 12 month high of $10.50.

Institutional Investors Weigh In On Marinus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MRNS. Suvretta Capital Management LLC lifted its position 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 valued at $8,930,000 after buying an additional 1,253,901 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Marinus Pharmaceuticals by 34.9% in 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 during the last quarter. abrdn plc increased its stake in Marinus Pharmaceuticals by 146.1% during the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock valued at $4,679,000 after purchasing an additional 1,578,329 shares during the last quarter. GSA Capital Partners LLP increased its stake in Marinus Pharmaceuticals by 409.4% during the third quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock valued at $1,789,000 after purchasing an additional 817,050 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Marinus Pharmaceuticals by 266.1% during the fourth quarter. JPMorgan Chase & Co. now owns 487,584 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 354,393 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

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.