Shares of Minerva Neurosciences, Inc (NASDAQ:NERV – Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.39 and traded as low as $5.13. Minerva Neurosciences shares last traded at $5.15, with a volume of 124,223 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on NERV. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Wall Street Zen downgraded shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Citizens Jmp assumed coverage on Minerva Neurosciences in a report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Minerva Neurosciences currently has a consensus rating of “Hold” and an average target price of $10.50.
View Our Latest Analysis on NERV
Minerva Neurosciences Price Performance
Minerva Neurosciences (NASDAQ:NERV – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). On average, equities analysts anticipate that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current fiscal year.
Institutional Trading of Minerva Neurosciences
Several hedge funds and other institutional investors have recently made changes to their positions in NERV. Seven Fleet Capital Management LP acquired a new position in shares of Minerva Neurosciences during the first quarter worth about $6,855,000. DV Trading LLC acquired a new stake in Minerva Neurosciences in the first quarter valued at about $5,358,000. Bank of America Corp DE boosted its holdings in Minerva Neurosciences by 78,272.5% in the 1st quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 39,919 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Minerva Neurosciences by 47,614.0% in the 1st quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock valued at $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Minerva Neurosciences during the 1st quarter worth approximately $62,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.
Minerva Neurosciences Company Profile
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.
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