Minerva Neurosciences Inc. (NERV) Sees Strong Trading Volume
Minerva Neurosciences Inc. (NASDAQ:NERV) saw an uptick in trading volume on Tuesday . 753,271 shares were traded during trading, an increase of 91% from the previous session’s volume of 393,537 shares.The stock last traded at $12.74 and had previously closed at $11.45.
A number of brokerages have recently weighed in on NERV. Zacks Investment Research lowered Minerva Neurosciences from a “buy” rating to a “sell” rating in a research note on Wednesday, June 1st. Jefferies Group restated a “buy” rating and set a $17.00 price target on shares of Minerva Neurosciences in a research note on Wednesday, June 8th. Finally, JMP Securities boosted their price target on Minerva Neurosciences from $10.00 to $17.00 in a research note on Thursday, May 26th.
The stock’s market cap is $450.03 million. The company’s 50 day moving average price is $10.85 and its 200 day moving average price is $7.82.
Minerva Neurosciences (NASDAQ:NERV) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. During the same period in the previous year, the firm earned ($0.27) EPS. Equities research analysts expect that Minerva Neurosciences Inc. will post ($0.90) EPS for the current year.
In other news, Director David Kupfer bought 55,635 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was bought at an average cost of $10.84 per share, for a total transaction of $603,083.40. Following the acquisition, the director now directly owns 209,188 shares of the company’s stock, valued at approximately $2,267,597.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $10.00, for a total value of $10,000,000.00. The disclosure for this sale can be found here.
Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio include MIN-101 for the treatment of schizophrenia; MIN-117 for the treatment of major depressive disorder (MDD); MIN-202 (also known as JNJ-42847922) for the treatment of insomnia disorder and adjunctive MDD, and MIN-301 for the treatment of Parkinson’s disease.
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