Oppenheimer analyst Jay Olson maintained a Hold rating on Marinus (MRNS – Research Report) yesterday and set a price target of $9.00.
Jay Olson’s Hold rating on Marinus Pharmaceuticals, Inc. (MRNS) is primarily influenced by a range of factors. A key concern is the further delay in the interim analysis readout for Phase 3 RAISE, pushing it to the second quarter of 2024 from an initial expectation of the first quarter of 2024. This delay follows previous postponements and raises questions about the dynamics of the trial. Olson also raises the possibility that the delays may be due to more rigorous enrollment criteria aimed at reducing the expected placebo effect.
Nevertheless, Olson remains cautious. The recent investor event held by MRNS provided positive insights on TSC and LGS as significant opportunities, while the optimization of the oral-GNX formulation is still ongoing. However, the slowdown in enrollment for the Phase 3 RAISE trial is a concern. Furthermore, there are potential drawbacks regarding the expected placebo effect, possible hesitation from physicians to advance patients to IV-anesthesia, and sample heterogeneity. Olson expresses anticipation for healthcare utilization endpoints to become crucial for potential reimbursement and MRNS’s confidence in showing supportive data in the final analysis.
MRNS’s price has also changed moderately for the past six months – from $9.160 to $6.895, which is a -24.73% drop .
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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.
Read More on MRNS:
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