Ladenburg Reaffirms Their Buy Rating on Marinus (MRNS)

By Ryan Adsit

In a report released today, Michael Higgins from Ladenburg maintained a Buy rating on Marinus (MRNSResearch Report), with a price target of $24.50. The company’s shares closed yesterday at $4.94.

Higgins said:

“We don’t believe consensus includes much, if any, potential revenues in RSE. Given the spotlight on RSE from this open-label trial, we encourage investors to consider the near-term catalyst as its impact on Marinus’ revenue/earnings potential is possibly greater than its current epilepsy programs. The RSE luncheon included MD, its CFO, Ed Smith, its MD/PhD, who discussed the clinical and therapeutic aspects of RSE, the rationale for developing ganaxolone in RSE and the design of the ongoing Phase 2. Marinus’ VP, Corporate & Thomas J. “TJ” Lyons, presented findings from ongoing market assessment analyses.”

According to TipRanks.com, Higgins has 0 stars on 0-5 star ranking scale with an average return of -4.3% and a 33.5% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Paratek Pharmaceuticals, and Zynerba Pharmaceuticals.

Currently, the analyst consensus on Marinus is a Strong Buy with an average price target of $16.50.

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Based on Marinus’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.11 million. In comparison, last year the company had a GAAP net loss of $6 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.