Cantor Fitzgerald Cuts Marinus Pharmaceuticals (NASDAQ:MRNS) Price Target to $4.00

Marinus Pharmaceuticals (NASDAQ:MRNS) had its price objective trimmed by Cantor Fitzgerald from $13.00 to $4.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

MRNS has been the subject of a number of other reports. LADENBURG THALM/SH SH cut Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 14th. EF Hutton Acquisition Co. I raised Marinus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 30th. JMP Securities reissued a “market perform” rating on shares of Marinus Pharmaceuticals in a research report on Thursday, October 24th. StockNews.com raised Marinus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Oppenheimer raised Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 target price for the company in a research report on Monday, September 23rd. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marinus Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $6.07.

Marinus Pharmaceuticals Stock Performance

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 stock has a market cap of $20.57 million, a P/E ratio of -0.14 and a beta of 1.14. Marinus Pharmaceuticals has a 1 year low of $0.26 and a 1 year high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released 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 period in the prior year, the company posted ($0.61) earnings per share. On average, equities research analysts predict that Marinus Pharmaceuticals will post -1.93 EPS for the current year.

Institutional Trading of Marinus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRNS. abrdn plc raised its stake in shares of 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 buying an additional 1,578,329 shares in the last quarter. Avoro Capital Advisors LLC raised its stake in shares of 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 buying an additional 990,607 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Marinus Pharmaceuticals during the 2nd quarter worth approximately $813,000. Renaissance Technologies LLC purchased a new position in shares of Marinus Pharmaceuticals during the 2nd quarter worth approximately $727,000. Finally, XTX Topco Ltd purchased a new position in shares of Marinus Pharmaceuticals during the 2nd quarter worth approximately $232,000. 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.