Minerva Neurosciences (NASDAQ:NERV) Shares Cross Below 200 Day Moving Average – Here’s Why

Minerva Neurosciences, Inc (NASDAQ:NERV) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.19 and traded as low as $4.70. Minerva Neurosciences shares last traded at $4.74, with a volume of 122,326 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Citizens Jmp started coverage on shares of Minerva Neurosciences in a research note on Wednesday, April 15th. They issued a “market outperform” rating and a $14.00 price objective on the stock. Wall Street Zen cut shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.50.

Minerva Neurosciences Trading Down 9.0%

The company’s 50 day moving average price is $6.36 and its two-hundred day moving average price is $5.19. The stock has a market cap of $220.84 million, a P/E ratio of -0.16 and a beta of -0.08.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.04). On average, sell-side analysts anticipate that Minerva Neurosciences, Inc will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Minerva Neurosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NERV. Vivo Capital LLC bought a new stake in Minerva Neurosciences during the 4th quarter worth approximately $17,377,000. Federated Hermes Inc. raised its stake in Minerva Neurosciences by 297.5% during the 4th quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock worth $21,595,000 after acquiring an additional 4,020,500 shares during the period. Logos Global Management LP bought a new stake in Minerva Neurosciences during the 4th quarter worth approximately $13,310,000. Adage Capital Partners GP L.L.C. bought a new stake in Minerva Neurosciences during the 4th quarter worth approximately $11,409,000. Finally, Farallon Capital Management LLC bought a new stake in Minerva Neurosciences during the 4th quarter worth approximately $9,507,000. Institutional investors own 34.56% of the company’s stock.

About Minerva Neurosciences

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.