Minerva Neurosciences, Inc (NASDAQ:NERV) Stock Rated “Reduce” by Wall Street Brokerages

Minerva Neurosciences, Inc (NASDAQ:NERV) has been assigned a consensus recommendation of “Reduce” from the four brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.33.

NERV has been the subject of a number of research analyst reports. Zacks Research cut shares of Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Jefferies Financial Group raised shares of Minerva Neurosciences from a “hold” rating to a “mixed” rating and boosted their target price for the stock from $7.50 to $10.00 in a research note on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Monday, September 21st.

Institutional Investors Weigh In On Minerva Neurosciences

Several hedge funds have recently modified their holdings of NERV. Janus Henderson Group PLC increased 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 worth $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Spruce Street Capital LP bought a new position in Minerva Neurosciences in the fourth quarter valued at about $6,655,000. Seven Fleet Capital Management LP acquired a new stake in shares of Minerva Neurosciences during the first quarter valued at about $6,855,000. DV Trading LLC acquired a new stake in shares of Minerva Neurosciences during the first quarter valued at about $5,358,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Minerva Neurosciences during the second quarter worth about $419,000. Institutional investors and hedge funds own 34.56% of the company’s stock.

Minerva Neurosciences Trading Up 1.5%

Shares of NASDAQ NERV opened at $3.28 on Friday. The company has a market cap of $156.62 million, a price-to-earnings ratio of -0.11 and a beta of -0.10. Minerva Neurosciences has a 12 month low of $2.08 and a 12 month high of $12.46. The stock has a 50-day moving average price of $4.17 and a two-hundred day moving average price of $4.97.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. On average, sell-side analysts predict that Minerva Neurosciences will post -0.73 earnings per share for the current year.

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.