Mizuho Securities analyst Difei Yang maintained a Buy rating on Marinus (NASDAQ: MRNS) today and set a price target of $13. The company’s shares opened today at $4.85.
Yang noted:
“We do not see earnings as the most meaningful indicator of value for early-stage biotechs. More importantly, the company remains on track to report Phase 2 data from the IV portion of the Magnolia study in 4Q18. We anticipate results will be available around early December. Because part 1 of Magnolia is a dose escalation study with ~60 patients, we do not anticipate seeing statistical significance, but rather we will be looking for a signal of efficacy along with information on a therapeutic dose to be taken into part 2 of Magnolia.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.3% and a 46.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Marinus with a $16 average price target.
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Based on Marinus’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.5 million. In comparison, last year the company had a GAAP net loss of $4.17 million.
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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.
