Minerva Neurosciences (NASDAQ:NERV) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Minerva Neurosciences to “Sell” from “Hold.” However, the broader analyst consensus remains “Hold,” with a $10.33 target price.
• NERV opened at $2.32, well below its 50-day moving average of $3.49 and 200-day moving average of $4.88, after trading between $1.96 and $8.80 over the past year.
• The company reported a quarterly loss of $0.14 per share, beating estimates of a $0.19 loss. Institutional investors own 34.56% of the stock, while Minerva continues developing treatments for central nervous system disorders, including schizophrenia.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on the company. Jefferies Financial Group raised Minerva Neurosciences from a "hold" rating to a "mixed" rating and lifted their target price for the stock from $7.50 to $10.00 in a report on Friday, August 14th. Zacks Research raised Minerva Neurosciences from a "strong sell" rating to a "hold" rating in a research note on Friday, October 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Minerva Neurosciences in a report on Monday, September 21st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Minerva Neurosciences presently has an average rating of "Hold" and a consensus target price of $10.33.

Minerva Neurosciences Stock Up 3.6%

NERV opened at $2.32 on Friday. The company has a fifty day moving average of $3.49 and a 200 day moving average of $4.88. Minerva Neurosciences has a fifty-two week low of $1.96 and a fifty-two week high of $8.80.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.05. Sell-side analysts predict that Minerva Neurosciences will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in shares of Minerva Neurosciences in the 2nd quarter valued at $419,000. Seven Fleet Capital Management LP bought a new position in shares of Minerva Neurosciences in the 1st quarter worth $6,855,000. DV Trading LLC purchased a new stake in shares of Minerva Neurosciences during the 1st quarter worth $5,358,000. Bank of America Corp DE lifted its stake in shares of Minerva Neurosciences by 78,272.5% during the 1st quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company's stock worth $241,000 after purchasing an additional 39,919 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Minerva Neurosciences by 47,614.0% during 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 during the last quarter. Hedge funds and other institutional investors own 34.56% of the company's stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company's research has centered on conditions with significant unmet medical needs, including schizophrenia, depression and other psychiatric or neurological diseases.

Minerva's lead product candidate has been roluperidone, an investigational therapy designed to address the negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.

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