Brokers Set Expectations for Minerva Neurosciences Inc’s FY2023 Earnings (NASDAQ:NERV)

Minerva Neurosciences Inc (NASDAQ:NERV) – Stock analysts at William Blair lowered their FY2023 earnings per share estimates for shares of Minerva Neurosciences in a report released on Monday, November 4th. William Blair analyst M. Minter now anticipates that the biopharmaceutical company will earn $0.39 per share for the year, down from their previous forecast of $0.43. William Blair has a “Outperform” rating and a $26.00 price objective on the stock.

Minerva Neurosciences (NASDAQ:NERV) last issued its earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01.

Other analysts have also issued reports about the company. BidaskClub raised Minerva Neurosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, August 23rd. ValuEngine lowered Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 30th. Chardan Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Minerva Neurosciences in a research report on Tuesday, October 1st. Finally, Zacks Investment Research lowered Minerva Neurosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $17.44.

Shares of Minerva Neurosciences stock opened at $5.16 on Tuesday. Minerva Neurosciences has a one year low of $4.01 and a one year high of $10.79. The firm has a market capitalization of $180.30 million, a price-to-earnings ratio of -4.00 and a beta of 1.50. The business has a 50-day simple moving average of $5.48 and a 200 day simple moving average of $6.16.

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Minerva Neurosciences in the 3rd quarter valued at about $35,000. Public Employees Retirement System of Ohio acquired a new position in Minerva Neurosciences during the 2nd quarter valued at about $54,000. Parametric Portfolio Associates LLC acquired a new position in Minerva Neurosciences during the 2nd quarter valued at about $56,000. Quantitative Systematic Strategies LLC acquired a new position in Minerva Neurosciences during the 2nd quarter valued at about $62,000. Finally, Jane Street Group LLC acquired a new position in Minerva Neurosciences during the 2nd quarter valued at about $88,000. 74.14% of the stock is owned by institutional investors and hedge funds.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.

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Earnings History and Estimates for Minerva Neurosciences (NASDAQ:NERV)

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