Minerva Neurosciences, Inc (NASDAQ:NERV) Given Consensus Rating of “Reduce” by Brokerages

Minerva Neurosciences, Inc (NASDAQ:NERV) has earned an average rating of “Reduce” from the four analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.3333.

NERV has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Wednesday, June 24th. Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Jefferies Financial Group upgraded Minerva Neurosciences from a “hold” rating to a “mixed” rating and upped their price target for the company from $7.50 to $10.00 in a research report on Friday, August 14th. Finally, Zacks Research cut Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th.

Minerva Neurosciences Price Performance

NASDAQ:NERV opened at $4.79 on Friday. The firm’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $5.45. Minerva Neurosciences has a one year low of $1.93 and a one year high of $12.46. The company has a market cap of $228.72 million, a PE ratio of -0.17 and a beta of -0.10.

Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. Equities research analysts expect that Minerva Neurosciences will post -0.5 EPS for the current year.

Institutional Trading of Minerva Neurosciences

Several institutional investors have recently added to or reduced their stakes in NERV. State Street Corp raised its holdings in Minerva Neurosciences by 45.4% during the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after purchasing an additional 7,500 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Minerva Neurosciences in the 4th quarter valued at $36,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Minerva Neurosciences during the first quarter worth $62,000. Cannon Global Investment Management LLC acquired a new stake in shares of Minerva Neurosciences during the first quarter worth $107,000. Finally, Renaissance Technologies LLC increased its position in shares of Minerva Neurosciences by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock worth $600,000 after buying an additional 32,700 shares during the period. 34.56% of the stock is currently owned by institutional investors.

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.