JMP Securities analyst Jason Butler raised his price target for Marinus Pharmaceuticals (MRNS) to $29 from $22 after the company announced positive results for both IV and oral formulations of ganaxolone in postpartum depression. The stock in midday trading is up 1c to $5.18. The results make comparisons to Sage Therapeutics' (SAGE) brexanolone and SAGE-217 relevant, Butler tells investors in a research note. Further, the analyst sees "potentially differentiating attributes" for ganaxolone. Specifically, at 60 hours, the optimal dose cohort for the IV formulation showed a 16.9 point reduction from baseline in HAM-D, and by comparison, in its Phase 3 trial, brexanolone showed a 17.7 point to 19.9 point reduction, explains the analyst. Butler increased his probability of approval for ganaxolone in PPD to 70% from 55%. He believes this morning's results show that Marinus represents a "clear and relevant competitor" to Sage. The analyst reiterates an Outperform rating on Marinus Pharmaceuticals.