Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Receives $4.79 Average Target Price from Brokerages

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) has received an average recommendation of “Hold” from the eleven research firms that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.79.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price objective on shares of Marinus Pharmaceuticals from $3.00 to $1.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. JMP Securities reissued a “market perform” rating on shares of Marinus Pharmaceuticals in a report on Thursday, October 24th. Truist Financial lowered Marinus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. EF Hutton Acquisition Co. I raised Marinus Pharmaceuticals to a “strong-buy” rating in a report on Monday, September 30th. Finally, Oppenheimer upgraded Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a research note on Monday, September 23rd.

Marinus Pharmaceuticals Stock Performance

Shares of NASDAQ:MRNS opened at $0.54 on Wednesday. The firm has a market cap of $29.65 million, a price-to-earnings ratio of -0.22 and a beta of 1.03. The business has a 50-day simple moving average of $0.35 and a two-hundred day simple moving average of $1.01. Marinus Pharmaceuticals has a fifty-two week low of $0.22 and a fifty-two week high of $10.50.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Hedge funds have recently modified their holdings of the company. abrdn plc raised its stake in Marinus Pharmaceuticals by 146.1% during the 3rd 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 period. Suvretta Capital Management LLC grew its holdings in Marinus Pharmaceuticals by 32.8% during the 3rd 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. raised its position in shares of Marinus Pharmaceuticals by 34.9% during the third quarter. Franklin Resources Inc. now owns 4,713,014 shares of the biopharmaceutical company’s stock valued at $8,483,000 after buying an additional 1,219,871 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Marinus Pharmaceuticals by 409.4% in the third quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock worth $1,789,000 after buying an additional 817,050 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Marinus Pharmaceuticals during the second quarter worth $813,000. 98.80% of the stock is currently owned by 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.