Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Expected to Post FY2024 Earnings of ($2.32) Per Share

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) – Cantor Fitzgerald lowered their FY2024 earnings per share estimates for shares of Marinus Pharmaceuticals in a research report issued on Tuesday, April 16th. Cantor Fitzgerald analyst C. Duncan now forecasts that the biopharmaceutical company will post earnings per share of ($2.32) for the year, down from their previous estimate of ($2.13). Cantor Fitzgerald currently has a “Overweight” rating and a $28.00 target price on the stock. The consensus estimate for Marinus Pharmaceuticals’ current full-year earnings is ($2.29) per share.

Marinus Pharmaceuticals (NASDAQ:MRNS) last posted its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.10). Marinus Pharmaceuticals had a negative return on equity of 269.75% and a negative net margin of 456.31%. The business had revenue of $7.19 million during the quarter, compared to the consensus estimate of $7.78 million. During the same period last year, the business posted ($0.76) earnings per share.

Other analysts have also issued reports about the company. Truist Financial decreased their target price on Marinus Pharmaceuticals from $25.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird reaffirmed a “neutral” rating on shares of Marinus Pharmaceuticals in a research report on Tuesday. Oppenheimer reaffirmed a “market perform” rating and issued a $9.00 target price on shares of Marinus Pharmaceuticals in a research report on Thursday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marinus Pharmaceuticals in a research report on Tuesday. Finally, StockNews.com lowered Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Marinus Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $16.07.

Marinus Pharmaceuticals Stock Performance

Shares of Marinus Pharmaceuticals stock opened at $1.38 on Thursday. Marinus Pharmaceuticals has a one year low of $1.11 and a one year high of $11.26. The firm has a market capitalization of $75.80 million, a price-to-earnings ratio of -0.52 and a beta of 0.91. The business has a 50-day simple moving average of $8.37 and a 200 day simple moving average of $8.36. The company has a debt-to-equity ratio of 5.68, a current ratio of 4.07 and a quick ratio of 4.01.

Institutional Trading of Marinus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in shares of Marinus Pharmaceuticals in the 4th quarter worth approximately $13,990,000. BlackRock Inc. boosted its stake in shares of Marinus Pharmaceuticals by 245.4% in the 2nd quarter. BlackRock Inc. now owns 3,897,770 shares of the biopharmaceutical company’s stock worth $42,330,000 after buying an additional 2,769,357 shares during the last quarter. Eventide Asset Management LLC boosted its stake in shares of Marinus Pharmaceuticals by 42.8% in the 3rd quarter. Eventide Asset Management LLC now owns 4,529,997 shares of the biopharmaceutical company’s stock worth $36,466,000 after buying an additional 1,356,800 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Marinus Pharmaceuticals by 58.4% in the 3rd quarter. Jennison Associates LLC now owns 2,955,343 shares of the biopharmaceutical company’s stock worth $23,791,000 after buying an additional 1,089,913 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Marinus Pharmaceuticals by 415.7% in the 4th quarter. Millennium Management LLC now owns 1,082,759 shares of the biopharmaceutical company’s stock worth $4,309,000 after buying an additional 872,782 shares during the last quarter. 98.80% of the stock is owned by 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.