Northern Trust Corp Buys 22,364 Shares of Minerva Neurosciences Inc (NASDAQ:NERV)

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Northern Trust Corp raised its stake in Minerva Neurosciences Inc (NASDAQ:NERV) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 400,260 shares of the biopharmaceutical company’s stock after acquiring an additional 22,364 shares during the period. Northern Trust Corp’s holdings in Minerva Neurosciences were worth $2,254,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in Minerva Neurosciences in the second quarter valued at $54,000. Renaissance Technologies LLC grew its position in Minerva Neurosciences by 25.3% in the second quarter. Renaissance Technologies LLC now owns 656,200 shares of the biopharmaceutical company’s stock valued at $3,694,000 after acquiring an additional 132,700 shares during the period. Russell Investments Group Ltd. grew its position in Minerva Neurosciences by 270.3% in the second quarter. Russell Investments Group Ltd. now owns 21,224 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 15,492 shares during the period. Acadian Asset Management LLC grew its position in Minerva Neurosciences by 75.1% in the second quarter. Acadian Asset Management LLC now owns 58,024 shares of the biopharmaceutical company’s stock valued at $326,000 after acquiring an additional 24,890 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Minerva Neurosciences in the second quarter valued at $464,000. Hedge funds and other institutional investors own 74.24% of the company’s stock.

Minerva Neurosciences stock opened at $4.27 on Tuesday. The firm has a market cap of $166.64 million, a P/E ratio of -3.31 and a beta of 1.51. The business’s fifty day moving average is $6.87 and its two-hundred day moving average is $6.54. Minerva Neurosciences Inc has a 52 week low of $4.07 and a 52 week high of $11.89.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.10. As a group, equities analysts forecast that Minerva Neurosciences Inc will post -1.49 EPS for the current year.

A number of brokerages have weighed in on NERV. ValuEngine cut Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 30th. Chardan Capital reissued a “buy” rating and issued a $17.00 price objective on shares of Minerva Neurosciences in a research note on Tuesday, October 1st. William Blair started coverage on Minerva Neurosciences in a research note on Wednesday, September 18th. They issued an “outperform” rating and a $26.00 price objective on the stock. Zacks Investment Research lowered Minerva Neurosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, BidaskClub raised Minerva Neurosciences from a “strong sell” rating to a “sell” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $18.19.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.

Further Reading: How dollar cost averaging works

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Institutional Ownership by Quarter for Minerva Neurosciences (NASDAQ:NERV)

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