Analyst Jason Butler of JMP Securities reiterated a Buy rating on Marinus (MRNS – Research Report), with a price target of $15.00.
Geoff Meacham has given his Buy rating due to a combination of factors including Marinus Pharmaceuticals’ strong fourth-quarter sales for ZTALMY and the reaffirmation of significant upcoming catalysts for 2024. The company’s Q4 sales exceeded the anticipated figures, coming in at $6.5-6.7 million against the estimates of $5.4 million and $5.8 million, respectively. The continued growth in the number of commercial patients, which surpassed 165 by year-end, affirms the drug’s solid market performance. Moreover, Marinus’s guidance for FY 2024 promises a healthy revenue forecast, which underpins the optimistic outlook on the stock.
Additionally, the company’s clinical pipeline shows promise, especially with the progress of its Phase 3 trials for ganaxolone in various indications. Over 90% of the necessary participants for the RAISE trial interim analysis have been enrolled, keeping the anticipated milestones within reach. The TrustTSC trial also exhibits favorable progression, with a low dropout rate and enrollment expected to be completed early in the year. These advancing clinical programs could lead to significant value inflection points for Marinus, supporting the Buy recommendation for the stock.
Butler covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, Cytokinetics, and Vigil Neuroscience Inc. According to TipRanks, Butler has an average return of -7.5% and a 40.16% success rate on recommended stocks.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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:
