Marinus Pharmaceuticals (NASDAQ:MRNS) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Marinus Pharmaceuticals (NASDAQ:MRNS) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.02, reports. The business had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.95 million. Marinus Pharmaceuticals had a negative net margin of 446.48% and a negative return on equity of 7,831.35%.

Marinus Pharmaceuticals Stock Up 0.5 %

Shares of Marinus Pharmaceuticals stock opened at $0.31 on Friday. Marinus Pharmaceuticals has a fifty-two week low of $0.26 and a fifty-two week high of $11.26. The business’s fifty day moving average is $1.26 and its two-hundred day moving average is $1.33. The firm has a market cap of $17.11 million, a PE ratio of -0.12 and a beta of 1.26.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “neutral” rating and set a $2.00 target price on shares of Marinus Pharmaceuticals in a research report on Thursday. Truist Financial lowered Marinus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. StockNews.com began coverage on Marinus Pharmaceuticals in a report on Sunday, November 10th. They issued a “hold” rating for the company. Jefferies Financial Group restated a “hold” rating and set a $0.50 target price (down from $5.00) on shares of Marinus Pharmaceuticals in a research report on Friday, October 25th. Finally, EF Hutton Acquisition Co. I upgraded shares of Marinus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.79.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in MRNS. Suvretta Capital Management LLC grew its holdings in Marinus Pharmaceuticals by 32.8% in 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 during the period. Avoro Capital Advisors LLC grew its holdings in Marinus Pharmaceuticals by 31.4% in the first quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock valued at $37,431,000 after purchasing an additional 990,607 shares during the period. Vanguard Group Inc. increased its position in Marinus Pharmaceuticals by 5.0% during the first quarter. Vanguard Group Inc. now owns 2,805,920 shares of the biopharmaceutical company’s stock worth $25,366,000 after purchasing an additional 132,689 shares during the last quarter. abrdn plc raised its stake in Marinus Pharmaceuticals by 146.1% during the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after purchasing an additional 1,578,329 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in shares of Marinus Pharmaceuticals by 409.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock valued at $1,789,000 after purchasing an additional 817,050 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.