Analyst Michael Higgins of Ladenburg Thalmann & Co. maintained a Buy rating on Marinus (MRNS – Research Report), reducing the price target to $4.00.
Michael Higgins has given his Buy rating due to a combination of factors surrounding Marinus’s stock. Despite the Phase 3 IV Ganaxolone’s RAISE trial interim results not meeting pre-defined stopping criteria, Higgins sees potential in the company’s continued development in other areas. The company’s decision to implement cost-reduction measures and the Data Monitoring Committee’s recommendation to continue the trial are seen as positive signs. Moreover, Marinus’s focus on developmental epileptic encephalopathies (DEEs) positions it alongside competitors with promising late-stage pipelines, which could lead to significant market opportunities.
Additionally, the anticipation of complete enrollment for the trial, the potential submission for priority review, and the provided financial guidance offer a sense of forward momentum and stability. The $4 price target reflects the adjusted valuation after removing future value from the RSE programs. Nevertheless, the upcoming details on Marinus’s Phase 2 trials into DEEs and the promising label expansions for current treatments in the pipeline suggest underlying value and opportunities for growth, which justify the Buy recommendation despite the setback in the RAISE trial.
Higgins covers the Healthcare sector, focusing on stocks such as Achieve Life Sciences, Palatin Technologies, and Marinus. According to TipRanks, Higgins has an average return of 4.1% and a 33.27% success rate on recommended stocks.
In another report released today, H.C. Wainwright also maintained 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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