HC Wainwright Reiterates “Neutral” Rating for Minerva Neurosciences (NASDAQ:NERV)

Minerva Neurosciences (NASDAQ:NERV)‘s stock had its “neutral” rating restated by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $5.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 194.12% from the stock’s previous close.

Separately, StockNews.com began coverage on shares of Minerva Neurosciences in a research report on Saturday, February 22nd. They issued a “sell” rating on the stock.

Minerva Neurosciences Stock Performance

NASDAQ:NERV opened at $1.70 on Wednesday. Minerva Neurosciences has a one year low of $1.69 and a one year high of $3.69. The firm has a market cap of $11.89 million, a P/E ratio of -3.86 and a beta of 0.12. The firm has a 50-day simple moving average of $2.15 and a 200-day simple moving average of $2.39.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.49. On average, research analysts predict that Minerva Neurosciences will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Minerva Neurosciences stock. Northern Trust Corp boosted its stake in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 60.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,878 shares of the biopharmaceutical company’s stock after purchasing an additional 13,829 shares during the period. Northern Trust Corp owned approximately 0.53% of Minerva Neurosciences worth $82,000 at the end of the most recent reporting period. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.