RBC Capital Downgrades Marinus Pharmaceuticals (MRNS) to Sector Perform

RBC Capital downgraded Marinus Pharmaceuticals (NASDAQ: MRNS) from Outperform to Sector Perform with a price target of $2.00 (from $14.00) after lead program, oral ganaxolone, did not meet the primary endpoint in the Phase III focal onset seizures trial and Marinus is discontinuing this program.

"Given that this was the program with the strongest evidence that ganaxolone worked, we see very low probability of successful readouts in the pediatric orphan indications and in status epilepticus and downgrade to Sector Perform, Speculative Risk," analyst Simos Simeonidis said.

For an analyst ratings summary and ratings history on Marinus Pharmaceuticals click here. For more ratings news on Marinus Pharmaceuticals click here.

Shares of Marinus Pharmaceuticals closed at $1.62 yesterday.

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• RBC Capital Downgrades Super Retail Group Ltd. (SUL:AU) to Sector Perform
• Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson