Minerva Neurosciences (NASDAQ:NERV) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Minerva Neurosciences reported quarterly EPS of ($0.17), missing the consensus estimate of ($0.13) by $0.04.
• Shares opened at $6.33 and were up about 4.3%; the stock trades in a 52-week range of $1.30–$12.46, has a market cap of about $277.5 million and a negative PE of −0.24.
• Analyst coverage is mixed with a consensus Hold rating and a $10.50 consensus price target (individual targets range from $7 to $14), while institutional investors have recently increased exposure—Federated Hermes boosted its stake ~297.5% and Vivo Capital and Adage established new positions—leaving ~34.6% owned by institutions.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.04), FiscalAI reports.

Minerva Neurosciences Stock Up 4.3%

Shares of NERV opened at $6.33 on Tuesday. Minerva Neurosciences has a 52-week low of $1.30 and a 52-week high of $12.46. The company has a 50-day simple moving average of $6.52 and a 200-day simple moving average of $5.08. The company has a market capitalization of $277.51 million, a PE ratio of -0.24 and a beta of -0.08.

Analysts Set New Price Targets

Several research analysts recently issued reports on NERV shares. HC Wainwright reissued a "neutral" rating and set a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Wall Street Zen upgraded Minerva Neurosciences from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Citizens Jmp began coverage on Minerva Neurosciences in a research note on Wednesday, April 15th. They set a "market outperform" rating and a $14.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Minerva Neurosciences in a report on Friday, March 27th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its position in shares of Minerva Neurosciences by 297.5% during the 4th quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company's stock valued at $21,595,000 after acquiring an additional 4,020,500 shares during the period. 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 raised its holdings 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 during the last quarter. Vivo Capital LLC purchased a new stake in Minerva Neurosciences during the fourth quarter worth $17,377,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Minerva Neurosciences in the fourth quarter valued at $11,409,000. 34.56% of the stock is owned by hedge funds and other institutional investors.

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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