Minerva Neurosciences Inc. (NERV) Shares Up 3.3%
Shares of Minerva Neurosciences Inc. (NASDAQ:NERV) shot up 3.3% during trading on Thursday . The company traded as high as $13.52 and last traded at $13.10, with a volume of 495,839 shares traded. The stock had previously closed at $12.68.
A number of research firms recently commented on NERV. Zacks Investment Research upgraded shares of Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, August 9th. JMP Securities lifted their target price on shares of Minerva Neurosciences from $10.00 to $17.00 in a research note on Thursday, May 26th. Finally, Jefferies Group began coverage on shares of Minerva Neurosciences in a research note on Thursday, May 12th. They issued a “buy” rating and a $10.00 target price for the company.
The company’s 50 day moving average is $11.20 and its 200 day moving average is $8.00. The firm’s market capitalization is $456.29 million.
Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.12. During the same quarter last year, the firm posted ($0.27) EPS. On average, equities analysts predict that Minerva Neurosciences Inc. will post ($0.90) earnings per share for the current year.
In other news, Director David Kupfer bought 55,635 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The shares were purchased at an average cost of $10.84 per share, for a total transaction of $603,083.40. Following the completion of the purchase, the director now owns 209,188 shares of the company’s stock, valued at $2,267,597.92. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $10.00, for a total transaction 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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