Minerva Neurosciences (NASDAQ:NERV) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a report issued on Saturday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reissued a “neutral” rating and set a $5.00 target price on shares of Minerva Neurosciences in a research note on Wednesday, February 26th.

Minerva Neurosciences Stock Up 3.7 %

Minerva Neurosciences stock opened at $1.66 on Friday. The firm’s fifty day moving average is $1.65 and its 200 day moving average is $2.08. Minerva Neurosciences has a 52-week low of $1.15 and a 52-week high of $3.69. The company has a market cap of $11.61 million, a price-to-earnings ratio of -3.77 and a beta of -0.09.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.49. On average, equities research analysts anticipate that Minerva Neurosciences will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Minerva Neurosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Apella Capital LLC acquired a new stake in shares of Minerva Neurosciences during the 1st quarter valued at about $35,000. Citadel Advisors LLC lifted its stake in shares of Minerva Neurosciences by 49.5% in the fourth quarter. Citadel Advisors LLC now owns 25,764 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 8,525 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Minerva Neurosciences by 60.0% in the fourth quarter. Northern Trust Corp now owns 36,878 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 13,829 shares in the last quarter. Hedge funds and other institutional investors own 34.56% of the company’s stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.