Shares of Marinus Pharmaceuticals Inc (NASDAQ:MRNS) have earned an average rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.75.
MRNS has been the subject of several research analyst reports. BidaskClub upgraded Marinus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, December 30th. Laidlaw initiated coverage on Marinus Pharmaceuticals in a report on Thursday, December 14th. They issued a “buy” rating and a $18.00 price objective for the company. Mizuho initiated coverage on Marinus Pharmaceuticals in a report on Monday, March 19th. They issued a “buy” rating and a $13.00 price objective for the company. HC Wainwright initiated coverage on Marinus Pharmaceuticals in a report on Thursday, February 15th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, ValuEngine cut Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 1st.
Shares of Marinus Pharmaceuticals stock traded up $0.02 during mid-day trading on Monday, reaching $3.82. The company had a trading volume of 829,797 shares, compared to its average volume of 1,267,480. Marinus Pharmaceuticals has a 52 week low of $1.13 and a 52 week high of $9.87. The stock has a market cap of $153.98, a PE ratio of -4.66 and a beta of 2.42.
Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings data on Tuesday, March 6th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07).
In other Marinus Pharmaceuticals news, CEO Christopher Michael Cashman sold 9,566 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $6.28, for a total value of $60,074.48. Following the completion of the sale, the chief executive officer now owns 247,903 shares in the company, valued at approximately $1,556,830.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRNS. Jennison Associates LLC lifted its stake in shares of Marinus Pharmaceuticals by 98.0% in the 3rd quarter. Jennison Associates LLC now owns 1,606,733 shares of the biopharmaceutical company’s stock valued at $9,432,000 after purchasing an additional 795,068 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Marinus Pharmaceuticals in the 3rd quarter valued at approximately $128,000. EAM Investors LLC purchased a new position in shares of Marinus Pharmaceuticals in the 3rd quarter valued at approximately $554,000. Citadel Advisors LLC lifted its stake in shares of Marinus Pharmaceuticals by 327.8% in the 3rd quarter. Citadel Advisors LLC now owns 51,383 shares of the biopharmaceutical company’s stock valued at $301,000 after purchasing an additional 39,371 shares during the period. Finally, Granite Point Capital Management L.P. lifted its stake in shares of Marinus Pharmaceuticals by 250.3% in the 3rd quarter. Granite Point Capital Management L.P. now owns 2,684,848 shares of the biopharmaceutical company’s stock valued at $15,760,000 after purchasing an additional 1,918,400 shares during the period. Institutional investors own 63.49% of the company’s stock.
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About Marinus Pharmaceuticals
Marinus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical-stage product candidate, ganaxolone, is a modulator being developed in various dose forms, including intravenous, oral capsule and oral liquid, intended to provide more treatment options to adult and pediatric patient populations in both acute and chronic care settings.
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