Minerva Neurosciences, Inc (NASDAQ:NERV) Stock Has Consensus Price Target of $10.33

Minerva Neurosciences, Inc (NASDAQ:NERV) has received an average recommendation of “Hold” from the four ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.33.

Several equities analysts have issued reports on NERV shares. Zacks Research raised Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, September 21st. Jefferies Financial Group raised shares of Minerva Neurosciences from a “hold” rating to a “mixed” rating and upped their target price for the company from $7.50 to $10.00 in a report on Friday, August 14th. Finally, Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Institutional Trading of Minerva Neurosciences

Several hedge funds have recently made changes to their positions in NERV. Seven Fleet Capital Management LP acquired a new position in shares of Minerva Neurosciences during the first quarter worth about $6,855,000. DV Trading LLC acquired a new stake in Minerva Neurosciences in the first quarter valued at about $5,358,000. Janus Henderson Group PLC boosted its holdings in Minerva Neurosciences by 47,614.0% in the 1st quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock valued at $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Minerva Neurosciences in the second quarter worth $419,000. Finally, Bank of America Corp DE lifted its stake in shares of Minerva Neurosciences by 78,272.5% in the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 39,919 shares during the period. Institutional investors and hedge funds own 34.56% of the company’s stock.

Minerva Neurosciences Stock Performance

NERV stock opened at $2.23 on Wednesday. Minerva Neurosciences has a fifty-two week low of $2.18 and a fifty-two week high of $8.80. The company’s 50 day moving average price is $3.64 and its 200 day moving average price is $4.91.

Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings data on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. Equities analysts anticipate that Minerva Neurosciences will post -0.73 earnings per share for the current fiscal year.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company’s research has centered on conditions with significant unmet medical needs, including schizophrenia, depression and other psychiatric or neurological diseases.

Minerva’s lead product candidate has been roluperidone, an investigational therapy designed to address the negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.