Minerva Neurosciences (NASDAQ:NERV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $8.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.70% from the stock’s current price.

According to Zacks, “Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of a portfolio of product candidates to treat central nervous system diseases. The Company’s pipeline will initially target the treatment of schizophrenia, major depressive disorder (MDD), insomnia, and Parkinson’s disease. Its product candidates include MIN-101, MIN-117, MIN-202 and MIN-301. Minerva Neurosciences, Inc. is based in Cambridge, MA, United States. “

A number of other research firms have also recently commented on NERV. BidaskClub upgraded Minerva Neurosciences from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 26th. ValuEngine cut Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 18th.

Shares of NERV traded down $0.02 during midday trading on Thursday, reaching $7.59. 70,831 shares of the stock were exchanged, compared to its average volume of 131,188. Minerva Neurosciences has a twelve month low of $5.00 and a twelve month high of $12.95. The stock has a market capitalization of $295.81 million, a P/E ratio of -7.03 and a beta of 1.60.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.07. As a group, equities research analysts forecast that Minerva Neurosciences will post -1.28 earnings per share for the current fiscal year.

In related news, CFO Geoff Race sold 5,999 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $7.46, for a total value of $44,752.54. Following the transaction, the chief financial officer now owns 204,369 shares in the company, valued at approximately $1,524,592.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William F. Doyle purchased 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The stock was bought at an average price of $7.97 per share, for a total transaction of $47,820.00. Following the transaction, the director now directly owns 16,611 shares in the company, valued at $132,389.67. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 10,000 shares of company stock worth $77,220 and have sold 16,007 shares worth $120,971. 9.60% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of NERV. Russell Investments Group Ltd. acquired a new position in Minerva Neurosciences in the 2nd quarter valued at about $925,000. Schwab Charles Investment Management Inc. increased its position in Minerva Neurosciences by 38.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 65,567 shares of the biopharmaceutical company’s stock valued at $541,000 after acquiring an additional 18,267 shares during the period. BlackRock Inc. increased its position in Minerva Neurosciences by 11.2% in the 2nd quarter. BlackRock Inc. now owns 2,181,703 shares of the biopharmaceutical company’s stock valued at $17,998,000 after acquiring an additional 219,405 shares during the period. Dimensional Fund Advisors LP increased its position in Minerva Neurosciences by 40.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 391,041 shares of the biopharmaceutical company’s stock valued at $3,226,000 after acquiring an additional 112,461 shares during the period. Finally, Renaissance Technologies LLC increased its position in Minerva Neurosciences by 241.1% in the 2nd quarter. Renaissance Technologies LLC now owns 176,000 shares of the biopharmaceutical company’s stock valued at $1,452,000 after acquiring an additional 124,400 shares during the period. Hedge funds and other institutional investors own 75.09% of the company’s stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.

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