Marinus Pharmaceuticals (NASDAQ:MRNS) Stock Price Up 51.7% After Analyst Upgrade

Marinus Pharmaceuticals Inc (NASDAQ:MRNS)’s stock price rose 51.7% on Tuesday after JMP Securities raised their price target on the stock from $7.00 to $4.00. The company traded as high as $4.07 and last traded at $3.20. Approximately 166,435,344 shares were traded during mid-day trading, an increase of 7,057% from the average daily volume of 2,325,394 shares. The stock had previously closed at $2.11.

A number of other brokerages have also weighed in on MRNS. Jefferies Financial Group raised their target price on Marinus Pharmaceuticals from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday. ValuEngine lowered Marinus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Marinus Pharmaceuticals in a research note on Tuesday. Oppenheimer raised their target price on Marinus Pharmaceuticals from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, BidaskClub upgraded Marinus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Marinus Pharmaceuticals has an average rating of “Buy” and a consensus target price of $5.83.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in Marinus Pharmaceuticals by 10.2% during the first quarter. Rhumbline Advisers now owns 73,724 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 6,819 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Marinus Pharmaceuticals by 14.0% during the 1st quarter. Wells Fargo & Company MN now owns 58,648 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 7,201 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marinus Pharmaceuticals by 4.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 204,899 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 8,241 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Marinus Pharmaceuticals by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 246,745 shares of the biopharmaceutical company’s stock valued at $627,000 after purchasing an additional 8,838 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Marinus Pharmaceuticals during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 74.45% of the company’s stock.

The firm has a market cap of $388.58 million, a P/E ratio of -3.18 and a beta of 2.00. The company has a fifty day moving average price of $1.89 and a two-hundred day moving average price of $2.13.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.03. Research analysts anticipate that Marinus Pharmaceuticals Inc will post -0.74 earnings per share for the current fiscal year.

Marinus Pharmaceuticals Company Profile (NASDAQ:MRNS)

Marinus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical stage product candidate, ganaxolone, is an allosteric modulator of GABAA, developed in three dose forms, including intravenous (IV), oral capsule, and oral liquid for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.

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