Minerva Neurosciences, Inc (NASDAQ:NERV – Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.28 and traded as low as $3.57. Minerva Neurosciences shares last traded at $3.83, with a volume of 287,171 shares changing hands.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NERV. Zacks Research downgraded Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group upgraded shares of Minerva Neurosciences from a “hold” rating to a “mixed” rating and increased their price target for the stock from $7.50 to $10.00 in a report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Minerva Neurosciences presently has a consensus rating of “Reduce” and a consensus target price of $10.33.
Get Our Latest Research Report on NERV
Minerva Neurosciences Trading Down 0.6%
Minerva Neurosciences (NASDAQ:NERV – Get Free Report) last released its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. Equities analysts expect that Minerva Neurosciences, Inc will post -0.73 earnings per share for the current year.
Institutional Investors Weigh In On Minerva Neurosciences
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in shares of Minerva Neurosciences by 47,614.0% in the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock valued at $25,873,000 after acquiring an additional 4,285,259 shares during the period. Spruce Street Capital LP purchased a new position in Minerva Neurosciences during the 4th quarter worth $6,655,000. Seven Fleet Capital Management LP acquired a new position in Minerva Neurosciences in the first quarter valued at $6,855,000. DV Trading LLC purchased a new stake in shares of Minerva Neurosciences in the first quarter valued at about $5,358,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Minerva Neurosciences during the second quarter worth about $419,000. 34.56% of the stock is owned by hedge funds and other institutional investors.
Minerva Neurosciences Company Profile
Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company’s research has centered on therapies for conditions with significant unmet medical needs, including schizophrenia, depression and other neuropsychiatric diseases.
Minerva’s leading investigational product has been roluperidone, formerly known as MIN-101. The orally administered compound is designed to address negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.
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