Minerva Neurosciences (NASDAQ:NERV) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Minerva Neurosciences (NASDAQ:NERV) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.04), FiscalAI reports.

Minerva Neurosciences Stock Performance

Shares of Minerva Neurosciences stock traded down $0.32 during trading on Tuesday, reaching $6.02. 27,568 shares of the company’s stock were exchanged, compared to its average volume of 205,378. Minerva Neurosciences has a 1-year low of $1.30 and a 1-year high of $12.46. The company has a market cap of $263.70 million, a P/E ratio of -0.22 and a beta of -0.08. The firm’s 50-day moving average price is $6.52 and its 200 day moving average price is $5.08.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NERV shares. Citizens Jmp began coverage on Minerva Neurosciences in a research note on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Friday, March 27th. Wall Street Zen upgraded Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, HC Wainwright restated a “neutral” rating and issued a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Minerva Neurosciences has an average rating of “Hold” and an average price target of $10.50.

Hedge Funds Weigh In On Minerva Neurosciences

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC acquired a new position in shares of Minerva Neurosciences during the 4th quarter worth $36,000. State Street Corp increased its holdings in Minerva Neurosciences by 45.4% in the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after purchasing an additional 7,500 shares in the last quarter. Millennium Management LLC acquired a new position in Minerva Neurosciences in the 4th quarter worth about $554,000. Renaissance Technologies LLC increased its holdings in Minerva Neurosciences by 28.1% in the 4th quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock worth $600,000 after purchasing an additional 32,700 shares in the last quarter. Finally, Ally Bridge Group NY LLC acquired a new position in Minerva Neurosciences in the 4th quarter worth about $6,655,000. Institutional investors and hedge funds own 34.56% of the company’s stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.