Minerva Neurosciences Inc. (NERV) Shares Up 8.6%
Minerva Neurosciences Inc. (NASDAQ:NERV)’s share price shot up 8.6% during trading on Friday . The stock traded as high as $12.28 and last traded at $11.67, with a volume of 400,628 shares changing hands. The stock had previously closed at $10.75.
Several research firms have recently commented on NERV. Jefferies Group began coverage on Minerva Neurosciences in a research note on Thursday, May 12th. They set a “buy” rating and a $10.00 target price for the company. Zacks Investment Research upgraded Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Finally, JMP Securities increased their target price on Minerva Neurosciences from $10.00 to $17.00 in a research note on Thursday, May 26th.
The stock has a 50-day moving average of $10.80 and a 200 day moving average of $7.70. The stock’s market cap is $404.26 million.
Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.12. During the same period last year, the business earned ($0.27) EPS. On average, equities analysts predict that Minerva Neurosciences Inc. will post ($0.90) EPS for the current fiscal year.
In related news, Director David Kupfer acquired 55,635 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The shares were acquired at an average cost of $10.84 per share, with a total value of $603,083.40. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed 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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