Minerva Neurosciences (NASDAQ:NERV) Posts Earnings Results, Beats Estimates By $0.05 EPS

Minerva Neurosciences (NASDAQ:NERV) released its earnings results on Friday. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05, FiscalAI reports.

Minerva Neurosciences Price Performance

Shares of NERV opened at $4.27 on Friday. The firm has a market capitalization of $198.94 million, a price-to-earnings ratio of -0.15 and a beta of -0.10. Minerva Neurosciences has a 1-year low of $1.76 and a 1-year high of $12.46. The company has a 50-day moving average of $4.51 and a 200 day moving average of $5.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC bought a new stake in shares of Minerva Neurosciences in the fourth quarter valued at about $36,000. State Street Corp lifted its holdings in shares of Minerva Neurosciences by 45.4% during the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 7,500 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Minerva Neurosciences in the 4th quarter valued at approximately $554,000. Renaissance Technologies LLC raised its stake in shares of Minerva Neurosciences by 28.1% in the fourth 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 during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new position in Minerva Neurosciences during the fourth quarter valued at $6,655,000. Institutional investors own 34.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NERV. Citizens Jmp assumed coverage on Minerva Neurosciences in a research note on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Minerva Neurosciences currently has an average rating of “Hold” and a consensus price target of $10.50.

Minerva Neurosciences Company Profile

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.