Minerva Neurosciences Inc. (NERV) Shares Up 4%
Minerva Neurosciences Inc. (NASDAQ:NERV)’s share price shot up 4% during mid-day trading on Wednesday . The stock traded as high as $10.85 and last traded at $10.55, with a volume of 156,494 shares changing hands. The stock had previously closed at $10.14.
Several brokerages have issued reports on NERV. Zacks Investment Research raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Thursday. Jefferies Group reissued a “buy” rating and issued a $17.00 price target (up from $10.00) on shares of Minerva Neurosciences in a research note on Friday, May 27th. 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 firm’s market cap is $295.91 million. The stock’s 50-day moving average is $9.96 and its 200 day moving average is $6.74.
Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. On average, equities research analysts anticipate that Minerva Neurosciences Inc. will post ($1.05) EPS for the current year.
In other news, Director David Kupfer acquired 55,635 shares of Minerva Neurosciences stock in a transaction dated 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 transaction, the director now owns 209,188 shares of the company’s stock, valued at $2,267,597.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
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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