Minerva Neurosciences (NASDAQ:NERV) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Minerva Neurosciences from “sell” to “hold.” Analysts’ overall view is also “Hold,” with one Buy, one Hold and one Sell rating, and an average price target of $10.50.
• NERV shares opened at $4.27 and were down 3.8%, trading well below their 52-week high of $12.46. The company has a market capitalization of approximately $198.9 million.
• Minerva reported a quarterly loss of $0.14 per share, beating analyst expectations for a $0.19 loss. Institutional investors and hedge funds own 34.56% of the company, with several funds recently increasing or initiating positions.

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

Several other brokerages have also recently commented on NERV. Citizens Jmp assumed coverage on Minerva Neurosciences in a report on Wednesday, April 15th. They set a "market outperform" rating and a $14.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $10.50.

Minerva Neurosciences Trading Down 3.8%

Minerva Neurosciences stock opened at $4.27 on Friday. Minerva Neurosciences has a 52 week low of $1.76 and a 52 week high of $12.46. The stock has a market cap of $198.94 million, a price-to-earnings ratio of -0.15 and a beta of -0.10. The company's 50-day moving average price is $4.51 and its two-hundred day moving average price is $5.42.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.05. Research analysts expect that Minerva Neurosciences will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Minerva Neurosciences

Several hedge funds have recently made changes to their positions in NERV. State Street Corp lifted 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 valued at $97,000 after purchasing an additional 7,500 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Minerva Neurosciences during the fourth quarter worth approximately $36,000. OMERS ADMINISTRATION Corp acquired a new position in Minerva Neurosciences in the first quarter worth approximately $62,000. Cannon Global Investment Management LLC acquired a new position in Minerva Neurosciences in the first quarter worth approximately $107,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Minerva Neurosciences by 28.1% in the fourth quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company's stock valued at $600,000 after buying an additional 32,700 shares in the last quarter. Institutional investors and hedge funds own 34.56% of the company's stock.

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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