Marinus Pharmaceuticals (MRNS) PT Lowered to $22 at Jefferies

Jefferies analyst Andrew Tsai lowered the price target on Marinus Pharmaceuticals (NASDAQ: MRNS) to $22.00 (from $29.00) while maintaining a Buy rating.

The analyst commented, "We think the ongoing launch of Ztalmy (oral ganaxolone; GNX) in CDD rare-epilepsy ($100M+ peak sales) is executing nicely and may create some valuation support as we approach two key data readouts in 2023-24: (1) Phase III RSE deadly-seizure data in H2:23 (core thesis), (2) Phase III data in TSC rare-epilepsy by early 2024. The stock looks cheap and currently trades at a fairly low <$100M EV, even though 2023 could mark a pivotal year for MRNS."

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