Marinus (MRNS) has received a new Buy rating, initiated by Robert W. Baird analyst, Brian Skorney.
Brian Skorney’s Buy rating for Marinus is influenced by several factors, mainly revolving around the potential of the biopharmaceutical company’s drug, ganaxolone. Skorney was particularly impressed with the Investor Day presentation, which offered a comprehensive view of the opportunities for both IV and oral ganaxolone, alongside next-generation development efforts. The fact that over 70% enrollment for the interim analysis of the RAISE trial was completed and the positive reviews from guest speakers about ganaxolone’s potential in the ICU also played a role in his rating decision.
In addition to the above, Skorney found the insights from key opinion leaders in the status epilepticus (SE) space to be valuable. They highlighted the challenges and management of refractory status epilepticus (RSE), emphasizing the urgent need for rapid and effective treatment. The trial design for the Phase 3 RAISE study was also a significant part of Skorney’s rating. Marinus identified 500ng/mL as the target concentration of ganaxolone for sustained seizure burden reduction in the Phase 2 trial. For the Phase 3 RAISE study, the treatment regimen aims to achieve this same plasma ganaxolone concentration, which Skorney believes supports a probable replication of the Phase 2 results. The RAISE trial is on track for its 1Q24 readout, which Skorney anticipates will lead to a substantial increase in Marinus’s valuation.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $27.00 price target.
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Marinus (MRNS) Company Description:
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. The company was founded by Geoffrey E. Chaiken, Harry H. Penner Jr., Vincent A. Pieribone and Kenneth R. Shaw on August 14, 2003 and is headquartered in Radnor, PA.
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