Marinus Pharmaceuticals price target lowered to $3 from $23 at EF Hutton

EF Hutton analyst Jason Kolbert lowered the firm’s price target on Marinus Pharmaceuticals (MRNS) to $3 from $23 and keeps a Buy rating on the shares. Marinus announced that its Phase 3 TrustTSC trial evaluating oral ganaxolone for treating seizures associated with tuberous sclerosis complex did not meet the primary endpoint of reducing TSC-related seizure frequency, the analyst tells investors in a research note. The firm removed its estimates for the tuberous sclerosis complex but keeps a Buy rating given the stock’s “distressed valuation.”