Minerva Neurosciences (NASDAQ:NERV) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Minerva Neurosciences (NASDAQ:NERV) from a sell rating to a hold rating in a research report report published on Saturday.

NERV has been the subject of a number of other reports. Citizens Jmp started coverage on Minerva Neurosciences in a research note on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.50.

Minerva Neurosciences Trading Down 3.8%

NASDAQ:NERV opened at $4.27 on Friday. The firm has a market capitalization of $198.94 million, a PE ratio of -0.15 and a beta of -0.10. The stock has a 50 day moving average of $4.51 and a 200-day moving average of $5.42. Minerva Neurosciences has a 52 week low of $1.76 and a 52 week high of $12.46.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. As a group, analysts predict that Minerva Neurosciences will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Seven Fleet Capital Management LP acquired a new position in shares of Minerva Neurosciences in the 1st quarter worth approximately $6,855,000. DV Trading LLC acquired a new position in Minerva Neurosciences during the 1st quarter worth about $5,358,000. Janus Henderson Group PLC lifted its position in shares of Minerva Neurosciences by 47,614.0% during the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock worth $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Spruce Street Capital LP acquired a new position in Minerva Neurosciences during the 4th quarter worth $6,655,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Minerva Neurosciences during the first quarter valued at $62,000. 34.56% of the stock is currently owned by institutional investors and hedge funds.

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.