In a report released yesterday, Elemer Piros from Cantor Fitzgerald initiated coverage with a Buy rating on Marinus (NASDAQ: MRNS) and a price target of $19. The company’s shares closed on Friday at $7.07.
Piros observed:
“We are initiating coverage on Overweight rating and 12-month price target of $19. Marinus is developing ganaxolone, a positive allosteric modulator of GABA A receptor, for the treatment of neurological diseases, including CDKL5 deficiency disorder (CDD), postpartum depression (PPD), and refractory status epilepticus (RSE). Based on the encouraging data in a Phase 2 trial for CDD, large market potential opportunities, strong safety profile observed in 1,600 patients, and undervaluation versus peers, we believe Marinus offers a compelling risk-reward profile ahead of upcoming catalysts.”
According to TipRanks.com, Piros is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.2% and a 48.3% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marinus with a $16.75 average price target.
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The company has a one-year high of $9.87 and a one-year low of $1.27. Currently, Marinus has an average volume of 715.2K.
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Marinus Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the identification and development of neuropsychiatric therapeutics. Its clinical stage drug product candidate, ganaxolone, is a positive allosteric modulator being developed in three different dose forms: intravenous, capsule, and liquid.
