Marinus Pharmaceuticals Inc (NASDAQ:MRNS)’s share price rose 11.1% on Thursday . The stock traded as high as $4.28 and last traded at $4.22. Approximately 585,437 shares traded hands during trading, a decline of 12% from the average daily volume of 664,488 shares. The stock had previously closed at $3.80.
MRNS has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Marinus Pharmaceuticals in a research note on Tuesday, March 5th. They set a “buy” rating and a $10.00 target price on the stock. Zacks Investment Research upgraded Marinus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Tuesday, March 5th. Cantor Fitzgerald reiterated a “buy” rating and set a $22.00 price target on shares of Marinus Pharmaceuticals in a report on Wednesday, May 1st. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $24.50 price target on shares of Marinus Pharmaceuticals in a report on Wednesday, May 1st. Finally, ValuEngine upgraded Marinus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Marinus Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $14.93.
The firm has a market capitalization of $213.92 million, a price-to-earnings ratio of -4.69 and a beta of 3.17.
In related news, CFO Edward F. Smith sold 24,211 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $5.03, for a total value of $121,781.33. Following the completion of the sale, the chief financial officer now directly owns 20,097 shares in the company, valued at approximately $101,087.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its holdings in Marinus Pharmaceuticals by 1,465.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,047 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 9,405 shares during the last quarter. Citigroup Inc. increased its position in Marinus Pharmaceuticals by 38.4% in the 1st quarter. Citigroup Inc. now owns 13,216 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 3,666 shares during the period. Parametric Portfolio Associates LLC bought a new position in Marinus Pharmaceuticals in the 1st quarter worth approximately $56,000. Voya Investment Management LLC increased its position in Marinus Pharmaceuticals by 22.7% in the 1st quarter. Voya Investment Management LLC now owns 16,863 shares of the biopharmaceutical company’s stock worth $70,000 after buying an additional 3,116 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Marinus Pharmaceuticals in the 1st quarter worth approximately $98,000. Hedge funds and other institutional investors own 63.35% of the company’s stock.
About Marinus Pharmaceuticals (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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