Jefferies maintained a Buy rating on Marinus Pharmaceuticals (NASDAQ: MRNS), and cut the price target to $13.00 (from $14.00), following the company's 4Q. Total operating expenses for Q4 were $7.5M consisting of $6.1M of R&D and $1.4M G&A expense. MRNS is set to announce top-line ganaxolone data from the ongoing drugresistant focal onset seizure ph.II/III study in adults in mid-2016, and full ph.II PCDH19 pediatric epilepsy data in mid-2016.

Analyst Brian Abrahams commented, "MRNS's ganaxolone programs continue to advance, with the oral readout expected mid-year and the IV program entering the clinic by then. We continue to believe MRNS's programs are underappreciated, and that their advancement should attract attention and drive share upside. Tweaking tgt to $13 from $14 on model/valuation adjustments."

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Shares of Marinus Pharmaceuticals closed at $5.95 yesterday.