Minerva Neurosciences (NASDAQ:NERV) Stock Price Crosses Below 50-Day Moving Average - Time to Sell?

Key Points

• Minerva Neurosciences shares fell below their 50-day moving average, trading as low as $4.53 and last changing hands at $4.72, a technical move that may signal weakness.
• Analyst sentiment is mixed: the stock has a consensus rating of Hold with an average price target of $10.50, though individual firms range from a $7.00 target to a $14.00 target and one downgrade to Sell.
• The company recently missed quarterly earnings estimates, reporting a loss of $0.17 per share versus expectations for a $0.13 loss, while institutional investors still own about 34.56% of the stock.

Minerva Neurosciences, Inc (NASDAQ:NERV - Get Free Report) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.03 and traded as low as $4.53. Minerva Neurosciences shares last traded at $4.72, with a volume of 195,394 shares.

Analysts Set New Price Targets

Several analysts have weighed in on NERV shares. HC Wainwright reissued 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Citizens Jmp started coverage on shares of Minerva Neurosciences in a research note on Wednesday, April 15th. They issued a "market outperform" rating and a $14.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Minerva Neurosciences from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.50.

Minerva Neurosciences Stock Performance

The firm has a fifty day simple moving average of $5.03 and a 200 day simple moving average of $5.42. The company has a market cap of $219.90 million, a PE ratio of -0.16 and a beta of -0.16.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.04). As a group, equities analysts predict that Minerva Neurosciences, Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Minerva Neurosciences

Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new stake in shares of Minerva Neurosciences during the 4th quarter worth $36,000. OMERS ADMINISTRATION Corp purchased a new stake in Minerva Neurosciences during the first quarter valued at about $62,000. State Street Corp increased its stake 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 acquiring an additional 7,500 shares during the last quarter. Cannon Global Investment Management LLC purchased a new position in shares of Minerva Neurosciences in the 1st quarter worth about $107,000. Finally, Apella Capital LLC lifted its stake in shares of Minerva Neurosciences by 7.8% in the 4th quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company's stock valued at $170,000 after purchasing an additional 3,066 shares in the last quarter. 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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