Minerva Neurosciences, Inc (NASDAQ:NERV - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.44 and traded as low as $4.79. Minerva Neurosciences shares last traded at $4.84, with a volume of 106,449 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Minerva Neurosciences from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research downgraded shares of Minerva Neurosciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group raised Minerva Neurosciences from a "hold" rating to a "mixed" rating and boosted their target price for the company from $7.50 to $10.00 in a research note on Friday, August 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Minerva Neurosciences currently has an average rating of "Reduce" and a consensus target price of $10.33.
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Minerva Neurosciences Price Performance
The firm's 50 day moving average price is $4.46 and its 200-day moving average price is $5.44. The stock has a market cap of $231.11 million, a P/E ratio of -0.17 and a beta of -0.10.
Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. On average, analysts expect that Minerva Neurosciences, Inc will post -0.5 earnings per share for the current year.
Hedge Funds Weigh In On Minerva Neurosciences
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. lifted its position 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 valued at $21,595,000 after purchasing an additional 4,020,500 shares in the last quarter. Vivo Capital LLC purchased a new stake in Minerva Neurosciences in the 4th quarter worth $17,377,000. Janus Henderson Group PLC increased its stake in 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 worth $25,873,000 after buying an additional 4,285,259 shares in the last quarter. Logos Global Management LP bought a new stake in Minerva Neurosciences during the fourth quarter valued at about $13,310,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Minerva Neurosciences in the fourth quarter valued at about $11,409,000. Hedge funds and other institutional investors own 34.56% of the company's stock.
About Minerva Neurosciences
(
Get Free Report)
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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