Minerva Neurosciences Inc. (NERV) Shares Down 2.3%
Shares of Minerva Neurosciences Inc. (NASDAQ:NERV) were down 2.3% during mid-day trading on Friday . The company traded as low as $11.98 and last traded at $12.06, with a volume of 141,183 shares traded. The stock had previously closed at $12.35.
A number of analysts have recently issued reports on NERV shares. Jefferies Group started coverage on Minerva Neurosciences in a research note on Thursday, May 12th. They issued a “buy” rating and a $10.00 price target on the stock. JMP Securities lifted their price target on Minerva Neurosciences from $10.00 to $17.00 in a research note on Thursday, May 26th. Finally, Zacks Investment Research downgraded Minerva Neurosciences from a “buy” rating to a “sell” rating in a research report on Wednesday, June 1st.
The company’s market cap is $423.23 million. The company has a 50-day moving average price of $11.62 and a 200 day moving average price of $8.47.
Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.12. During the same period in the previous year, the company earned ($0.27) EPS. Analysts forecast that Minerva Neurosciences Inc. will post ($0.90) EPS for the current year.
In other news, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $10.00, for a total transaction of $10,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Kupfer bought 55,635 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 209,188 shares in the company, valued at approximately $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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