Minerva Neurosciences (NASDAQ:NERV) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Minerva Neurosciences (NASDAQ:NERV) posted its earnings results on Wednesday. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01), Zacks reports.

Minerva Neurosciences Stock Up 0.4%

NERV stock traded up $0.02 on Friday, hitting $3.66. 25,552 shares of the company’s stock were exchanged, compared to its average volume of 903,850. The firm has a 50 day moving average price of $2.84 and a two-hundred day moving average price of $2.17. Minerva Neurosciences has a 12-month low of $1.15 and a 12-month high of $12.46.

Analysts Set New Price Targets

Several analysts have recently commented on the company. HC Wainwright lowered their price objective on Minerva Neurosciences from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerva Neurosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $4.00.

Minerva Neurosciences Company Profile

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.