Marinus Pharmaceuticals price target lowered to $1 from $3 at RBC Capital

RBC Capital lowered the firm’s price target on Marinus Pharmaceuticals (MRNS) to $1 from $3 and keeps a Sector Perform rating on the shares. The company’s Phase III study of oral ganaxolone in tuberous sclerosis complex rare epilepsy did not meet the primary endpoint of significant difference in placebo-adjusted percent change, though while ganaxolone’s journey under the company may be coming to an end, its revenue stream in CDD may still have “leverageability”, and if the stock remains depressed after yesterday’s 80% downside move, there could potentially be an arbitrage opportunity, the analyst tells investors in a research note.