In a report released today, Michael Higgins from Ladenburg Thalmann & Co. maintained a Buy rating on Marinus (MRNS), with a price target of $3. The company’s shares closed last Monday at $1.12, close to its 52-week low of $0.77.
Higgins noted:
“We recently hosted investor meetings with Marinus management. Following the readout from ganaxolone in PPD a month ago investors were eager to meet with Marinus management, including Scott Braunstein, MD, who recently became CEO after taking over as the board in February. Discussions centered around the near-term data from with ganaxolone, which is being tested in 15-20 refractory status epilepticus (RSE) patients. Investors were equally interested in ganaxolone’s two ongoing pivotals in the rare epilepsies, CDKL5 (Marigold; data mid’20) and PCDH19 (VIOLET; data 2021).”
According to TipRanks.com, Higgins is ranked 0 out of 5 stars with an average return of -11.6% and a 30.0% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Armata Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Achieve Life Sciences Inc.
Currently, the analyst consensus on Marinus is a Moderate Buy with an average price target of $3.50.
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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 $12.42 million. In comparison, last year the company had a GAAP net loss of $9.5 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.
