Minerva Neurosciences, Inc (NASDAQ:NERV) Receives Consensus Recommendation of "Reduce" from Analysts

Key Points

• Analysts are generally bearish on Minerva Neurosciences: Two of four analysts rate the stock “sell,” one rates it “hold” and one rates it “buy,” resulting in a consensus “Reduce” recommendation. The average 12-month price target is $10.33.
• Institutional ownership has increased: Several hedge funds and investment firms recently initiated or expanded positions, with institutional investors and hedge funds collectively owning 34.56% of NERV shares.
• The stock remains well below its recent highs: NERV opened at $3.28, compared with a 12-month range of $2.08 to $12.46, while the company reported a quarterly loss of $0.14 per share—better than the $0.19 loss analysts expected.

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the four brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.33.

A number of analysts have recently weighed in on NERV shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Minerva Neurosciences in a research report on Monday, September 21st. Jefferies Financial Group upgraded Minerva Neurosciences from a "hold" rating to a "mixed" rating and raised their price target for the stock from $7.50 to $10.00 in a research report on Friday, August 14th. Zacks Research downgraded Minerva Neurosciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Minerva Neurosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th.

Hedge Funds Weigh In On Minerva Neurosciences

Several hedge funds and other institutional investors have recently made changes to their positions in NERV. Bank of New York Mellon Corp acquired a new stake in shares of Minerva Neurosciences during the 2nd quarter worth approximately $419,000. Seven Fleet Capital Management LP acquired a new stake in shares of Minerva Neurosciences in the 1st quarter valued at $6,855,000. DV Trading LLC acquired a new stake in shares of Minerva Neurosciences in the 1st quarter valued at $5,358,000. Bank of America Corp DE increased its stake in shares of 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 during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of 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 during the last quarter. 34.56% of the stock is currently owned by institutional investors and hedge funds.

Minerva Neurosciences Stock Up 1.5%

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

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last announced its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. Equities analysts expect that Minerva Neurosciences will post -0.73 EPS 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.

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