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

Key Points

• Wall Street Zen downgraded Minerva Neurosciences from hold to sell, adding to a mixed analyst backdrop that currently leaves the stock with a consensus Hold rating and a $10.50 price target.
• The company missed earnings estimates in its latest quarterly report, posting EPS of -$0.17 versus expectations of -$0.13; analysts now expect full-year EPS of about -0.6.
• Minerva shares were trading at $5.88, below the consensus target and within a wide 52-week range of $1.30 to $12.46, while institutional ownership stands at 34.56%.

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

Several other research firms have also weighed in on NERV. Citizens Jmp assumed coverage on shares of Minerva Neurosciences in a research report on Wednesday, April 15th. They set a "market outperform" rating and a $14.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Minerva Neurosciences in a research report on Friday, March 27th. Finally, HC Wainwright restated a "neutral" rating and set a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a research report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $10.50.

Minerva Neurosciences Price Performance

NASDAQ NERV opened at $5.88 on Friday. Minerva Neurosciences has a 1 year low of $1.30 and a 1 year high of $12.46. The firm has a market cap of $273.95 million, a price-to-earnings ratio of -0.20 and a beta of -0.08. The company has a fifty day moving average price of $6.51 and a 200-day moving average price of $5.16.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last posted its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). On average, research analysts anticipate that Minerva Neurosciences will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Minerva Neurosciences

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in shares of Minerva Neurosciences in the fourth quarter valued at approximately $36,000. State Street Corp increased 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 acquiring an additional 7,500 shares during the period. Cannon Global Investment Management LLC bought a new stake in Minerva Neurosciences during the 1st quarter worth approximately $107,000. Apella Capital LLC increased its holdings in Minerva Neurosciences by 7.8% during the 4th quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company's stock worth $170,000 after acquiring an additional 3,066 shares during the period. Finally, Millennium Management LLC bought a new stake in Minerva Neurosciences during the 4th quarter worth approximately $554,000. 34.56% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.