Minerva Neurosciences (NASDAQ:NERV) Now Covered by Citizens Jmp

Key Points

• Citizens Jmp initiated coverage on Minerva Neurosciences with an "outperform" rating and a $14.00 price target, implying roughly **138.5%** upside from the current price.
• MarketBeat shows a consensus "Hold" rating with an average price target of $10.50; shares recently traded around $5.87 with a 52-week range of $1.30–$12.46.
• Significant institutional activity includes Federated Hermes raising its stake to ~5.37M shares (~$21.6M) and Vivo Capital initiating a new ~$17.4M position, with institutions owning about 34.56% of the stock.

Equities research analysts at Citizens Jmp began coverage on shares of Minerva Neurosciences (NASDAQ:NERV - Get Free Report) in a research note issued on Wednesday. The brokerage set an "outperform" rating and a $14.00 price target on the biopharmaceutical company's stock. Citizens Jmp's price target points to a potential upside of 138.50% from the stock's current price.

A number of other research firms have also recently commented on NERV. Wall Street Zen upgraded Minerva Neurosciences from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings reissued a "sell (d-)" rating on shares of Minerva Neurosciences in a research note on Friday, March 27th. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $10.50.

Minerva Neurosciences Stock Performance

Shares of NERV stock opened at $5.87 on Wednesday. Minerva Neurosciences has a fifty-two week low of $1.30 and a fifty-two week high of $12.46. The company has a 50 day moving average price of $6.33 and a 200 day moving average price of $4.71. The stock has a market capitalization of $257.34 million, a P/E ratio of -0.22 and a beta of -0.19.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NERV. Apella Capital LLC lifted its position in shares of Minerva Neurosciences by 87.8% during the 3rd quarter. Apella Capital LLC now owns 39,314 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 18,375 shares during the period. Federated Hermes Inc. raised its holdings in Minerva Neurosciences by 297.5% during the fourth quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company's stock worth $21,595,000 after purchasing an additional 4,020,500 shares during the last quarter. Renaissance Technologies LLC raised its holdings in 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 purchasing an additional 32,700 shares during the last quarter. State Street Corp boosted its position in Minerva Neurosciences by 45.4% during the fourth 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 in the last quarter. Finally, Vivo Capital LLC purchased a new stake in Minerva Neurosciences during the fourth quarter worth $17,377,000. 34.56% of the stock is currently owned by institutional investors and hedge funds.

Minerva Neurosciences Company Profile

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.

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