Marinus Pharmaceuticals price target lowered to $10 from $25 at Truist

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.