Minerva Neurosciences (NERV) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Minerva Neurosciences (NASDAQ:NERV) from a buy rating to a hold rating in a report released on Friday morning.

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. “

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Minerva Neurosciences from a strong-buy rating to a buy rating in a report on Tuesday, November 13th. ValuEngine downgraded shares of Minerva Neurosciences from a strong-buy rating to a buy rating in a report on Tuesday, December 18th.

NASDAQ NERV opened at $7.59 on Friday. The stock has a market cap of $295.81 million, a price-to-earnings ratio of -7.03 and a beta of 1.60. Minerva Neurosciences has a 52 week low of $5.00 and a 52 week high of $12.95.

Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.07. As a group, equities research analysts anticipate that Minerva Neurosciences will post -1.28 EPS for the current year.

In other news, Director William F. Doyle purchased 6,000 shares of the stock in a transaction dated Tuesday, December 11th. The shares were purchased at an average cost of $7.97 per share, with a total value of $47,820.00. Following the completion of the acquisition, the director now owns 16,611 shares in the company, valued at approximately $132,389.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Geoff Race sold 5,999 shares of the stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $7.46, for a total transaction of $44,752.54. Following the completion of the sale, the chief financial officer now directly owns 204,369 shares in the company, valued at $1,524,592.74. The disclosure for this sale can be found here. Over the last three months, insiders bought 10,000 shares of company stock worth $77,220 and sold 16,007 shares worth $120,971. Corporate insiders own 9.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC raised its stake in Minerva Neurosciences by 2.8% in the second quarter. Millennium Management LLC now owns 919,471 shares of the biopharmaceutical company’s stock valued at $7,586,000 after purchasing an additional 25,092 shares in the last quarter. Renaissance Technologies LLC raised its stake in Minerva Neurosciences by 241.1% in the second quarter. Renaissance Technologies LLC now owns 176,000 shares of the biopharmaceutical company’s stock valued at $1,452,000 after purchasing an additional 124,400 shares in the last quarter. Acadian Asset Management LLC raised its stake in Minerva Neurosciences by 33.6% in the third quarter. Acadian Asset Management LLC now owns 42,822 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 10,762 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Minerva Neurosciences in the third quarter valued at approximately $1,510,000. Finally, Russell Investments Group Ltd. raised its stake in Minerva Neurosciences by 35.9% in the third quarter. Russell Investments Group Ltd. now owns 152,576 shares of the biopharmaceutical company’s stock valued at $1,914,000 after purchasing an additional 40,346 shares in the last quarter. 75.09% of the stock is currently owned by institutional investors and hedge funds.

Minerva Neurosciences Company Profile

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.

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