Marinus Pharmaceuticals (NASDAQ:MRNS) holds the first spot in terms of its stock price performance last year. MRNS stock rallied above 800% before the latest selloff. Marinus stock price soared from $1.25 at the beginning of FY2017 to almost $10 a share at the end of the year. Its stock is currently trading around $7.34 a share, while analysts expect further upside in the coming days.
The consensus estimate for its target price is $14, almost double its current level. With a market capitalization of $296 million, Marinus has been impressing investors amid its advancement in CDKL5 Deficiency Disorder, Status Epilepticus (SE) and Postpartum Depression (PPD) clinical programs.
Recently, the company experienced thriving results from its Phase 2 open-label study, which assessed the efficacy and safety of ganaxolone in children with CDD. The results indicated that ganaxolone presented considerable and robust anti-seizure efficacy in children with CDD.
“We achieved an important milestone this quarter as we announced successful results from our clinical study in children with CDKL5 deficiency disorder, a rare, genetic epilepsy with no approved therapies,” said Christopher M. Cashman, Chief Executive Officer of Marinus Pharmaceuticals (MRNS).
The company appears in an excellent position to invest in growth opportunities. It ended the latest quarter with $62.9 million in cash and cash equivalents. Marinus Pharmaceuticals has recently raised $200 million through mixed shelf offering. The company plans to use proceeds for its clinical trial expenses, manufacturing and R&D. The company believes it has sufficient cash to fund their clinical programs by 2020.
According to the company’s 13F filing, 32 institutional investors have increased their ownership in Marinus Pharmaceuticals in the latest quarter. Currently, institutional investors hold 67.8% in MRNS stock. Institutional investor’s interest in MRNS stock represents their confidence in the company’s future fundamentals.
Overall, Marinus looks in a good position on the back of its developments in all three clinical programs. Its stock price declined in the last two weeks, amid traders profit-taking. Nevertheless, analysts price targets and its fundamentals suggest further upside in the days ahead. Therefore, investors should hold this stock for more upside.
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