Marinus Pharmaceuticals price target lowered to $11 from $27 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Marinus Pharmaceuticals to $11 from $27 and keeps a Buy rating on the shares. The firm understands the investor disappointment that ganaxolone did not meet the pre-defined stopping criteria for RAISE’s interim analysis, but thinks the market has been too quick to write off the opportunity for Marinus. It consulted with neurocritical care specialists who continue to believe the drug could provide significant value to patients.