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Marinus Pharmaceuticals (MRNS) Soars 19.9%: Is Further Upside Left in the Stock?

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Marinus Pharmaceuticals (MRNS - Free Report) shares soared 19.9% in the last trading session to close at $7.03. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.3% loss over the past four weeks.

Share price rose as the compnay provided revenue and cash guidance for the third quarter 2023. The company also updated on the progress of its pipeline candidates targeting major central nervous system disorders.

This epilepsy drug developer is expected to post quarterly loss of $0.67 per share in its upcoming report, which represents a year-over-year change of -91.4%. Revenues are expected to be $6.54 million, up 179.6% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Marinus Pharmaceuticals, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MRNS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Marinus Pharmaceuticals is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Amylyx Pharmaceuticals, Inc. (AMLX - Free Report) , finished the last trading session 1% higher at $18.88. AMLX has returned -12.2% over the past month.

For Amylyx Pharmaceuticals, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.47. This represents a change of +151.1% from what the company reported a year ago. Amylyx Pharmaceuticals, Inc. currently has a Zacks Rank of #3 (Hold).

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