Zacks Investment Research lowered shares of Minerva Neurosciences, Inc (NASDAQ:NERV) from a buy rating to a hold rating in a report issued on Thursday, October 5th.
According to Zacks, “Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of a portfolio of product candidates to treat central nervous system diseases. The Company’s pipeline will initially target the treatment of schizophrenia, major depressive disorder (MDD), insomnia, and Parkinson’s disease. Its product candidates include MIN-101, MIN-117, MIN-202 and MIN-301. Minerva Neurosciences, Inc. is based in Cambridge, MA, United States. “
A number of other brokerages have also recently commented on NERV. BidaskClub cut Minerva Neurosciences from a hold rating to a sell rating in a report on Monday, July 24th. Citigroup Inc. started coverage on Minerva Neurosciences in a report on Friday, September 1st. They set a buy rating and a $11.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $13.94.
Minerva Neurosciences (NERV) opened at 7.15 on Thursday. The stock’s 50 day moving average price is $7.12 and its 200 day moving average price is $7.64. Minerva Neurosciences has a 52-week low of $5.55 and a 52-week high of $14.15. The firm’s market capitalization is $303.94 million.
Minerva Neurosciences (NASDAQ:NERV) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.07. During the same period in the prior year, the firm earned ($0.18) earnings per share. On average, equities analysts anticipate that Minerva Neurosciences will post ($0.90) earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in NERV. Citadel Advisors LLC purchased a new position in shares of Minerva Neurosciences during the first quarter valued at approximately $110,000. Nationwide Fund Advisors boosted its position in shares of Minerva Neurosciences by 14.2% during the second quarter. Nationwide Fund Advisors now owns 13,005 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 1,616 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Minerva Neurosciences by 54.6% during the second quarter. Russell Investments Group Ltd. now owns 15,794 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 5,579 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Minerva Neurosciences during the second quarter valued at approximately $145,000. Finally, State of Wisconsin Investment Board purchased a new position in shares of Minerva Neurosciences during the second quarter valued at approximately $159,000. Institutional investors own 69.29% of the company’s stock.
About Minerva Neurosciences
Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio and indications include MIN-101 for the treatment of schizophrenia; MIN-202, for the treatment of insomnia disorder and major depressive disorder (MDD); MIN-117, for the treatment of MDD, and MIN-301 for the treatment of Parkinson’s disease.
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