Minerva Neurosciences (NASDAQ:NERV) Stock Passes Above 50-Day Moving Average – What’s Next?

Minerva Neurosciences, Inc (NASDAQ:NERV)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.07 and traded as high as $4.60. Minerva Neurosciences shares last traded at $4.36, with a volume of 319,111 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NERV. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Monday. HC Wainwright decreased their price objective on shares of Minerva Neurosciences from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $4.00.

Minerva Neurosciences Price Performance

The company’s fifty day moving average is $3.16 and its two-hundred day moving average is $2.32.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.01). Analysts expect that Minerva Neurosciences, Inc will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Apella Capital LLC raised its stake in shares of Minerva Neurosciences, Inc (NASDAQ:NERV) by 87.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 39,314 shares of the biopharmaceutical company’s stock after buying an additional 18,375 shares during the period. Apella Capital LLC’s holdings in Minerva Neurosciences were worth $83,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 34.56% of the company’s stock.

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.