Minerva Neurosciences (NASDAQ:NERV) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Minerva Neurosciences (NASDAQ:NERV) announced its earnings results on Friday. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05, FiscalAI reports.

Minerva Neurosciences Stock Down 3.8%

Minerva Neurosciences stock traded down $0.17 during midday trading on Friday, hitting $4.27. The company’s stock had a trading volume of 171,007 shares, compared to its average volume of 160,870. Minerva Neurosciences has a 12 month low of $1.76 and a 12 month high of $12.46. The company has a market capitalization of $198.94 million, a PE ratio of -0.15 and a beta of -0.10. The stock’s 50-day moving average price is $4.51 and its 200-day moving average price is $5.42.

Wall Street Analyst Weigh In

NERV has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Citizens Jmp started coverage on shares of Minerva Neurosciences in a research report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.50.

Institutional Trading of Minerva Neurosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in NERV. Millennium Management LLC acquired a new stake in Minerva Neurosciences during the fourth quarter valued at approximately $554,000. Janus Henderson Group PLC bought a new position in shares of Minerva Neurosciences in the fourth quarter valued at $36,000. Logos Global Management LP bought a new position in shares of Minerva Neurosciences in the fourth quarter valued at $13,310,000. Ally Bridge Group NY LLC bought a new stake in shares of Minerva Neurosciences during the 4th quarter worth $6,655,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Minerva Neurosciences during the 4th quarter worth $9,507,000. 34.56% of the stock is currently owned by institutional investors.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.