Marinus Pharmaceuticals (NASDAQ:MRNS) Trading Down 9.8%

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Marinus Pharmaceuticals Inc (NASDAQ:MRNS) shares fell 9.8% during trading on Wednesday . The company traded as low as $1.47 and last traded at $1.57, 1,346,304 shares were traded during mid-day trading. An increase of 58% from the average session volume of 853,665 shares. The stock had previously closed at $1.74.

A number of brokerages have commented on MRNS. LADENBURG THALM/SH SH restated a “buy” rating and issued a $3.00 price target on shares of Marinus Pharmaceuticals in a research report on Friday, August 9th. Mizuho decreased their price objective on Marinus Pharmaceuticals from $5.00 to $1.70 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. ValuEngine raised Marinus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Marinus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, HC Wainwright assumed coverage on Marinus Pharmaceuticals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $5.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $10.59.

The company has a 50 day simple moving average of $1.31 and a 200 day simple moving average of $3.38. The company has a market capitalization of $91.49 million, a PE ratio of -1.51 and a beta of 2.90.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Analysts expect that Marinus Pharmaceuticals Inc will post -0.94 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Marinus Pharmaceuticals by 7.2% in the second quarter. BlackRock Inc. now owns 3,427,739 shares of the biopharmaceutical company’s stock valued at $14,226,000 after purchasing an additional 229,811 shares during the period. Morgan Stanley boosted its position in Marinus Pharmaceuticals by 1,679.6% during the 2nd quarter. Morgan Stanley now owns 187,889 shares of the biopharmaceutical company’s stock worth $780,000 after purchasing an additional 177,331 shares during the period. Vanguard Group Inc. boosted its position in Marinus Pharmaceuticals by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,587,314 shares of the biopharmaceutical company’s stock worth $10,737,000 after purchasing an additional 115,294 shares during the period. Wells Fargo & Company MN boosted its position in Marinus Pharmaceuticals by 199.6% during the 2nd quarter. Wells Fargo & Company MN now owns 52,642 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 35,072 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Marinus Pharmaceuticals by 32.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 126,761 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 31,260 shares during the period. Institutional investors own 64.26% of the company’s stock.

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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