Minerva Neurosciences Inc (NASDAQ:NERV) shares shot up 8.6% during mid-day trading on Tuesday . The company traded as high as $5.91 and last traded at $5.56, 708,700 shares were traded during mid-day trading. An increase of 86% from the average session volume of 381,008 shares. The stock had previously closed at $5.12.
A number of brokerages recently issued reports on NERV. ValuEngine downgraded Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a report on Monday, September 30th. BidaskClub raised Minerva Neurosciences from a “strong sell” rating to a “sell” rating in a report on Friday, August 23rd. Chardan Capital reiterated a “buy” rating and issued a $17.00 price objective on shares of Minerva Neurosciences in a research note on Tuesday, October 1st. William Blair began coverage on Minerva Neurosciences in a research note on Wednesday, September 18th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, Zacks Investment Research cut Minerva Neurosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Minerva Neurosciences currently has a consensus rating of “Buy” and a consensus target price of $17.44.
The stock has a 50 day simple moving average of $4.73 and a two-hundred day simple moving average of $6.03. The company has a market cap of $201.37 million, a PE ratio of -4.31 and a beta of 1.50.
Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.01. On average, research analysts expect that Minerva Neurosciences Inc will post -1.48 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. grew its holdings in Minerva Neurosciences by 39.2% during the second quarter. Jacobs Levy Equity Management Inc. now owns 184,311 shares of the biopharmaceutical company’s stock worth $1,038,000 after acquiring an additional 51,942 shares during the period. TD Asset Management Inc. raised its holdings in shares of Minerva Neurosciences by 2.8% during the 2nd quarter. TD Asset Management Inc. now owns 58,847 shares of the biopharmaceutical company’s stock valued at $331,000 after buying an additional 1,600 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Minerva Neurosciences by 270.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,224 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 15,492 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Minerva Neurosciences during the 3rd quarter valued at about $35,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Minerva Neurosciences during the 2nd quarter valued at approximately $464,000. Institutional investors own 73.96% of the company’s stock.
Minerva Neurosciences Company Profile (NASDAQ:NERV)
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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