Minerva Neurosciences, Inc (NASDAQ:NERV) Stock Now Rated “Reduce” by Wall Street Analysts

Minerva Neurosciences, Inc (NASDAQ:NERV) has been given a consensus recommendation of “Reduce” by the four analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.33.

Several brokerages have issued reports on NERV. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Monday, September 21st. Zacks Research cut Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Jefferies Financial Group upgraded Minerva Neurosciences from a “hold” rating to a “mixed” rating and lifted their price target for the company from $7.50 to $10.00 in a report on Friday, August 14th. Finally, Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Institutional Trading of Minerva Neurosciences

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in Minerva Neurosciences by 47,614.0% during the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock valued at $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Spruce Street Capital LP purchased a new stake in Minerva Neurosciences in the 4th quarter worth approximately $6,655,000. Seven Fleet Capital Management LP acquired a new stake in shares of Minerva Neurosciences during the 1st quarter valued at $6,855,000. DV Trading LLC acquired a new stake in shares of Minerva Neurosciences during the 1st quarter valued at $5,358,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Minerva Neurosciences during the 2nd quarter valued at $419,000. 34.56% of the stock is owned by hedge funds and other institutional investors.

Minerva Neurosciences Trading Down 1.2%

NERV stock opened at $3.18 on Friday. Minerva Neurosciences has a one year low of $2.24 and a one year high of $12.46. The firm has a 50-day moving average of $4.08 and a two-hundred day moving average of $4.82. The firm has a market capitalization of $151.84 million, a PE ratio of -0.11 and a beta of -0.10.

Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. On average, equities research analysts anticipate that Minerva Neurosciences will post -0.73 earnings per share for the current year.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system disorders. The company’s research activities have centered on conditions including schizophrenia, major depressive disorder and other neuropsychiatric diseases with significant unmet medical needs.

Minerva’s lead investigational product has been roluperidone, formerly known as MIN-101, an orally administered compound studied as a potential treatment for negative symptoms of schizophrenia.