Minerva Neurosciences (NASDAQ:NERV) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Minerva Neurosciences, Inc (NASDAQ:NERV) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.03 and traded as low as $4.53. Minerva Neurosciences shares last traded at $4.72, with a volume of 195,394 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Citizens Jmp initiated coverage on Minerva Neurosciences in a report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target on the stock. Finally, Wall Street Zen downgraded Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. 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. Based on data from MarketBeat.com, Minerva Neurosciences has an average rating of “Hold” and a consensus target price of $10.50.

Minerva Neurosciences Price Performance

The firm has a market capitalization of $219.90 million, a PE ratio of -0.16 and a beta of -0.16. The stock’s fifty day simple moving average is $5.00 and its 200 day simple moving average is $5.42.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.04). On average, analysts predict that Minerva Neurosciences, Inc will post -0.2 EPS for the current year.

Institutional Trading of Minerva Neurosciences

Several hedge funds have recently bought and sold shares of NERV. Seven Fleet Capital Management LP purchased a new stake in Minerva Neurosciences in the first quarter worth about $6,855,000. DV Trading LLC purchased a new position in shares of Minerva Neurosciences during the 1st quarter valued at about $5,358,000. Bank of America Corp DE lifted its position in shares of Minerva Neurosciences by 78,272.5% during the 1st quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 39,919 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Minerva Neurosciences by 47,614.0% during 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 acquiring an additional 4,285,259 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Minerva Neurosciences during the 1st quarter valued at approximately $62,000. Institutional investors own 34.56% of the company’s stock.

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.