Mizuho analyst Difei Yang downgraded Marinus Pharmaceuticals to Neutral and lowered her price target for the shares to $5 from $13. The stepping down of CEO Chris Cashman is “not good timing” as it comes in the middle of the “important” ongoing Phase II clinical trials of ganaxolone with data expected in the first half of 2019, Yang tells investors in a research note. The analyst sees the news as a negative development for Marinus and reduced her probability of success for ganaxolone in postpartum depression from 50% to 20%.
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