Minerva Neurosciences Inc. (NASDAQ:NERV) dropped 10% during mid-day trading on Wednesday . The company traded as low as $10.01 and last traded at $10.49, with a volume of 632,291 shares changing hands. The stock had previously closed at $11.66.

NERV has been the topic of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Minerva Neurosciences in a report on Wednesday, June 8th. Zacks Investment Research cut shares of Minerva Neurosciences from a “buy” rating to a “sell” rating in a report on Wednesday, June 1st. Finally, JMP Securities upped their target price on shares of Minerva Neurosciences from $10.00 to $17.00 in a report on Thursday, May 26th.

The company’s market cap is $367.54 million. The firm’s 50-day moving average is $10.80 and its 200-day moving average is $7.65.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. During the same quarter last year, the firm earned ($0.27) earnings per share. Equities analysts anticipate that Minerva Neurosciences Inc. will post ($0.90) earnings per share for the current year.

In related news, Director David Kupfer purchased 55,635 shares of Minerva Neurosciences stock in a transaction on Tuesday, June 21st. The stock was acquired at an average cost of $10.84 per share, for a total transaction of $603,083.40. Following the completion of the acquisition, the director now owns 209,188 shares of the company’s stock, valued at approximately $2,267,597.92. The purchase was disclosed in a filing with the SEC, which is available at 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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