Minerva Neurosciences Inc. (NERV) Stock Price Down 0.7%
Minerva Neurosciences Inc. (NASDAQ:NERV) shares were down 0.7% during trading on Tuesday . The stock traded as low as $12.76 and last traded at $12.88, with a volume of 232,359 shares traded. The stock had previously closed at $12.97.
Several research analysts recently commented on NERV shares. Zacks Investment Research upgraded Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, August 9th. Jefferies Group reiterated a “buy” rating and issued a $17.00 price target on shares of Minerva Neurosciences in a research report on Wednesday, June 8th. Finally, JMP Securities lifted their price target on Minerva Neurosciences from $10.00 to $17.00 in a research report on Thursday, May 26th.
The stock’s 50-day moving average is $11.31 and its 200 day moving average is $8.15. The firm’s market capitalization is $449.33 million.
Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. During the same quarter last year, the company posted ($0.27) earnings per share. Equities research analysts forecast that Minerva Neurosciences Inc. will post ($0.90) EPS for the current fiscal year.
In other news, Director David Kupfer acquired 55,635 shares of the firm’s stock in a transaction on Tuesday, June 21st. The stock was acquired at an average price of $10.84 per share, for a total transaction of $603,083.40. Following the completion of the transaction, the director now owns 209,188 shares in the company, valued at approximately $2,267,597.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the company’s stock in a transaction dated 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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