Minerva Neurosciences Inc. (NERV) Stock Price Up 2.9%
Minerva Neurosciences Inc. (NASDAQ:NERV) rose 2.9% on Monday . The company traded as high as $12.49 and last traded at $12.44, with a volume of 209,798 shares. The stock had previously closed at $12.09.
NERV has been the topic of a number of recent research reports. JMP Securities lifted their target price on Minerva Neurosciences from $10.00 to $17.00 in a research report on Thursday, May 26th. Jefferies Group initiated coverage on Minerva Neurosciences in a research report on Thursday, May 12th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Zacks Investment Research raised Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, August 9th.
The stock’s market cap is $429.15 million. The firm has a 50 day moving average price of $11.49 and a 200-day moving average price of $8.36.
Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.12. During the same quarter in the prior year, the firm earned ($0.27) EPS. On average, analysts anticipate that Minerva Neurosciences Inc. will post ($0.90) EPS for the current year.
In other Minerva Neurosciences news, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $10.00, for a total transaction of $10,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Kupfer purchased 55,635 shares of the business’s stock in a transaction on Tuesday, June 21st. The shares were acquired at an average cost of $10.84 per share, for a total transaction of $603,083.40. Following the completion of the transaction, the director now directly owns 209,188 shares in the company, valued at $2,267,597.92. The disclosure for this purchase 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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