Minerva Neurosciences (NASDAQ:NERV) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Minerva Neurosciences shares fell below their 200-day moving average, trading as low as $3.17 versus the $4.99 average, and last changing hands at $3.23.
• Analyst sentiment is generally negative: the stock has an average “Reduce” rating, with one Buy, one Hold and two Sell ratings. The average price target is $10.33, though recent actions ranged from a Jefferies target increase to Zacks’ “strong sell” downgrade.
• The company reported a quarterly loss of $0.14 per share, beating expectations for a $0.19 loss. Institutional investors own approximately 34.56% of the stock, while Minerva continues developing central nervous system treatments, including roluperidone for schizophrenia symptoms.

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV - Get Free Report) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.99 and traded as low as $3.17. Minerva Neurosciences shares last traded at $3.23, with a volume of 89,215 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on NERV shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Minerva Neurosciences in a report on Monday, September 21st. Wall Street Zen upgraded Minerva Neurosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Jefferies Financial Group upgraded Minerva Neurosciences from a "hold" rating to a "mixed" rating and raised their price target for the stock from $7.50 to $10.00 in a research report on Friday, August 14th. Finally, Zacks Research cut Minerva Neurosciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $10.33.

Minerva Neurosciences Stock Performance

The firm's 50 day moving average is $4.18 and its two-hundred day moving average is $4.99. The stock has a market capitalization of $154.23 million, a PE ratio of -0.11 and a beta of -0.10.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. On average, analysts anticipate that Minerva Neurosciences, Inc will post -0.73 EPS for the current year.

Institutional Investors Weigh In On Minerva Neurosciences

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in shares of Minerva Neurosciences during the second quarter worth about $419,000. Seven Fleet Capital Management LP acquired a new stake in Minerva Neurosciences in the first quarter valued at approximately $6,855,000. DV Trading LLC acquired a new stake in Minerva Neurosciences in the first quarter valued at approximately $5,358,000. Bank of America Corp DE lifted its stake in Minerva Neurosciences by 78,272.5% in the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company's stock worth $241,000 after acquiring an additional 39,919 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Minerva Neurosciences by 47,614.0% in the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company's stock worth $25,873,000 after acquiring an additional 4,285,259 shares during the last quarter. Hedge funds and other institutional investors own 34.56% of the company's stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company's research has centered on therapies for conditions with significant unmet medical needs, including schizophrenia, depression and other neuropsychiatric diseases.

Minerva's leading investigational product has been roluperidone, formerly known as MIN-101. The orally administered compound is designed to address negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.

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