Scott Braunstein Sells 6,413 Shares of Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Stock

Posted by Defense World Staff on Aug 10th, 2023

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS – Get Free Report) CEO Scott Braunstein sold 6,413 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $9.55, for a total transaction of $61,244.15. Following the sale, the chief executive officer now directly owns 160,792 shares in the company, valued at approximately $1,535,563.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Marinus Pharmaceuticals Price Performance

MRNS stock opened at $8.68 on Thursday. The stock has a market cap of $438.77 million, a PE ratio of -14.47 and a beta of 1.29. Marinus Pharmaceuticals, Inc. has a 12 month low of $3.46 and a 12 month high of $11.15. The company has a 50-day moving average price of $9.84 and a 200 day moving average price of $8.17. The company has a current ratio of 10.23, a quick ratio of 10.22 and a debt-to-equity ratio of 1.26.

Marinus Pharmaceuticals (NASDAQ:MRNS – Get Free Report) last announced its earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.10. Marinus Pharmaceuticals had a negative return on equity of 179.11% and a negative net margin of 169.99%. The business had revenue of $10.38 million during the quarter, compared to analyst estimates of $5.33 million. Equities research analysts anticipate that Marinus Pharmaceuticals, Inc. will post -2.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MRNS shares. Truist Financial decreased their target price on shares of Marinus Pharmaceuticals from $50.00 to $42.00 in a research report on Friday, May 12th. StockNews.com downgraded Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Check Out Our Latest Analysis on MRNS

Hedge Funds Weigh In On Marinus Pharmaceuticals

Large investors have recently bought and sold shares of the business. Lion Point Capital LP lifted its position in shares of Marinus Pharmaceuticals by 14.6% during the fourth quarter. Lion Point Capital LP now owns 4,222,648 shares of the biopharmaceutical company’s stock worth $21,480,000 after purchasing an additional 538,026 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Marinus Pharmaceuticals during the 4th quarter valued at about $13,990,000. Jennison Associates LLC bought a new stake in Marinus Pharmaceuticals during the 2nd quarter valued at about $20,259,000. Antara Capital LP boosted its position in Marinus Pharmaceuticals by 70.4% in the 4th quarter. Antara Capital LP now owns 1,698,794 shares of the biopharmaceutical company’s stock valued at $6,761,000 after buying an additional 702,000 shares during the period. Finally, Vanguard Group Inc. grew its stake in Marinus Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,691,370 shares of the biopharmaceutical company’s stock worth $11,248,000 after acquiring an additional 16,812 shares in the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.

Marinus Pharmaceuticals Company Profile

(Get Free Report)

Marinus Pharmaceuticals, Inc, a pharmaceutical company, focuses on development and commercialization of therapeutic products for patients suffering from rare genetic epilepsies and other seizure disorders. It offers ZTALMY (ganaxolone), an oral suspension for the treatment of seizures associated with cyclin-dependent kinase-like 5 deficiency disorder for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.