Truist analyst Joon Lee lowered the firm’s price target on Marinus Pharmaceuticals to $10 from $25 and keeps a Buy rating on the shares. The firm is updating its sum-of-parts valuation model on the stock following the company’s recent pipeline update, stating that the Phase 3 RAISE trial not stopping for efficacy at interim despite the stated powering assumptions signals challenges to the overall trial hitting at 100 patient enrollment. This may also have some negative read-throughs to the entire ganaxolone program, including IV and oral, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRNS:
- Marinus Pharmaceuticals downgraded to Neutral from Outperform at Baird
- Marinus Pharmaceuticals downgraded to Sector Perform at RBC Capital
- Marinus expects Phase 3 Trust TSC trial of ZTALMY in mid-May 2024
- Marinus Pharmaceuticals sees Q1 revenue $7.4M-$7.6M, consensus $9.08M
- Marinus trial did not meet stopping criteria at the interim analysis