Minerva Neurosciences (NASDAQ:NERV) Cut to Sell at Wall Street Zen

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

A number of other analysts have also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Monday, September 21st. Zacks Research raised Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Jefferies Financial Group upgraded 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. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Minerva Neurosciences has a consensus rating of “Hold” and a consensus price target of $10.33.

Minerva Neurosciences Trading Up 1.3%

Minerva Neurosciences stock opened at $2.35 on Friday. Minerva Neurosciences has a 12-month low of $1.96 and a 12-month high of $8.80. The firm has a 50 day simple moving average of $3.44 and a 200-day simple moving average of $4.87.

Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. As a group, equities analysts predict that Minerva Neurosciences will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp bought a new stake in Minerva Neurosciences in the first quarter valued at $62,000. Bank of America Corp DE lifted its holdings in shares of Minerva Neurosciences by 78,272.5% during the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 39,919 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Minerva Neurosciences during the second quarter valued at $419,000. DV Trading LLC bought a new position in shares of Minerva Neurosciences during the first quarter valued at $5,358,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Minerva Neurosciences in the 1st quarter valued at $6,855,000. Institutional investors own 34.56% of the company’s stock.

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.