Minerva Neurosciences Inc. (NERV) Sees Unusually-High Trading Volume
Minerva Neurosciences Inc. (NASDAQ:NERV) shares saw unusually-high trading volume on Tuesday . Approximately 753,271 shares changed hands during mid-day trading, an increase of 91% from the previous session’s volume of 393,537 shares.The stock last traded at $12.74 and had previously closed at $11.45.
NERV has been the subject of several recent analyst reports. JMP Securities raised their price target on Minerva Neurosciences from $10.00 to $17.00 in a report on Thursday, May 26th. Zacks Investment Research raised Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, August 9th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $17.00 price objective (up from $10.00) on shares of Minerva Neurosciences in a report on Friday, May 27th.
The stock’s market capitalization is $466.39 million. The stock has a 50-day moving average of $11.02 and a 200 day moving average of $7.91.
Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.12. During the same period in the prior year, the business earned ($0.27) earnings per share. Equities analysts predict that Minerva Neurosciences Inc. will post ($0.90) EPS for the current year.
In related news, Director David Kupfer bought 55,635 shares of the stock in a transaction dated Tuesday, June 21st. The stock was bought at an average cost of $10.84 per share, with a total value of $603,083.40. Following the completion of the acquisition, 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 can be accessed through the SEC website. 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 shares were sold at an average price of $10.00, for a total value 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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