Marinus Pharmaceuticals Inc (NASDAQ:MRNS) Short Interest Up 29.8% in August

Marinus Pharmaceuticals Inc (NASDAQ:MRNS) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 14,800,000 shares, a growth of 29.8% from the August 15th total of 11,400,000 shares. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is presently 8.0 days.

A number of analysts have commented on the stock. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $4.50 price target on shares of Marinus Pharmaceuticals in a research report on Thursday, August 6th. Oppenheimer raised their target price on Marinus Pharmaceuticals from $6.00 to $7.00 and gave the stock an “outperform” rating in a research note on Tuesday. Cowen assumed coverage on Marinus Pharmaceuticals in a research note on Wednesday, July 1st. They issued an “outperform” rating on the stock. Cantor Fitzgerald raised their price objective on shares of Marinus Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, JMP Securities increased their target price on shares of Marinus Pharmaceuticals from $7.00 to $4.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.83.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. VR Adviser LLC purchased a new stake in shares of Marinus Pharmaceuticals during the 1st quarter valued at about $13,201,000. BlackRock Inc. increased its position in Marinus Pharmaceuticals by 42.1% in the first quarter. BlackRock Inc. now owns 5,187,826 shares of the biopharmaceutical company’s stock worth $10,531,000 after buying an additional 1,536,875 shares in the last quarter. FMR LLC bought a new position in shares of Marinus Pharmaceuticals in the second quarter worth about $3,372,000. JPMorgan Chase & Co. lifted its position in shares of Marinus Pharmaceuticals by 197.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,480,387 shares of the biopharmaceutical company’s stock valued at $3,006,000 after buying an additional 982,869 shares in the last quarter. Finally, Monashee Investment Management LLC bought a new position in shares of Marinus Pharmaceuticals during the 2nd quarter valued at approximately $2,038,000. Institutional investors and hedge funds own 74.45% of the company’s stock.

Shares of MRNS stock traded down $0.02 during trading on Wednesday, hitting $3.18. The company’s stock had a trading volume of 11,035,972 shares, compared to its average volume of 2,374,945. The company has a market cap of $391.02 million, a PE ratio of -3.12 and a beta of 2.00. The business has a fifty day moving average of $1.86 and a 200-day moving average of $2.13. Marinus Pharmaceuticals has a 52 week low of $1.01 and a 52 week high of $4.07.

Marinus Pharmaceuticals (NASDAQ:MRNS) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. On average, sell-side analysts expect that Marinus Pharmaceuticals will post -0.74 EPS for the current fiscal year.

Marinus Pharmaceuticals Company Profile

Marinus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical stage product candidate, ganaxolone, is an allosteric modulator of GABAA, developed in three dose forms, including intravenous (IV), oral capsule, and oral liquid for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.

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