Minerva Neurosciences (NASDAQ:NERV) Posts Earnings Results, Beats Expectations By $0.05 EPS

Minerva Neurosciences (NASDAQ:NERV) released its quarterly earnings results on Friday. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05, FiscalAI reports.

Minerva Neurosciences Stock Down 3.8%

NERV traded down $0.17 during trading on Friday, hitting $4.27. The company’s stock had a trading volume of 171,007 shares, compared to its average volume of 160,870. The firm has a market capitalization of $198.94 million, a P/E ratio of -0.15 and a beta of -0.10. Minerva Neurosciences has a twelve month low of $1.76 and a twelve month high of $12.46. The stock’s fifty day moving average price is $4.51 and its 200-day moving average price is $5.42.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NERV. Millennium Management LLC bought a new position in Minerva Neurosciences in the fourth quarter worth approximately $554,000. Janus Henderson Group PLC acquired a new position in Minerva Neurosciences during the fourth quarter worth $36,000. Logos Global Management LP bought a new position in shares of Minerva Neurosciences in the fourth quarter valued at $13,310,000. Ally Bridge Group NY LLC bought a new position in shares of Minerva Neurosciences in the fourth quarter valued at $6,655,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Minerva Neurosciences during the fourth quarter valued at about $9,507,000. 34.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NERV has been the topic of several recent research reports. Wall Street Zen downgraded shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp started coverage on shares of Minerva Neurosciences in a research report on Wednesday, April 15th. They issued a “market outperform” rating and a $14.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Minerva Neurosciences currently has an average rating of “Hold” and a consensus target price of $10.50.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.