Minerva Neurosciences (NASDAQ:NERV) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.
A number of other analysts also recently commented on NERV. BidaskClub upgraded Minerva Neurosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, August 23rd. HC Wainwright initiated coverage on Minerva Neurosciences in a research report on Friday, May 31st. They issued a “buy” rating and a $22.00 price target for the company. Finally, Zacks Investment Research raised Minerva Neurosciences from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a research note on Friday, August 9th.
Shares of NASDAQ:NERV traded up $0.92 during trading on Wednesday, hitting $8.52. 425,700 shares of the stock were exchanged, compared to its average volume of 377,574. The company has a fifty day moving average price of $6.89 and a two-hundred day moving average price of $6.76. The company has a market cap of $288.79 million, a PE ratio of -6.60 and a beta of 1.54. Minerva Neurosciences has a 12-month low of $4.07 and a 12-month high of $12.95.
Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.10. As a group, research analysts predict that Minerva Neurosciences will post -1.5 EPS for the current year.
In related news, Director David Kupfer purchased 10,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of $5.55 per share, with a total value of $55,500.00. Following the completion of the transaction, the director now owns 219,188 shares of the company’s stock, valued at approximately $1,216,493.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Venture Associates L. Index III sold 110,818 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $4.41, for a total value of $488,707.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,905 shares of company stock valued at $2,256,214. 12.00% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of NERV. Bank of America Corp DE boosted its stake in shares of Minerva Neurosciences by 17.0% during the fourth quarter. Bank of America Corp DE now owns 20,412 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 2,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Minerva Neurosciences by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,602,098 shares of the biopharmaceutical company’s stock worth $10,798,000 after purchasing an additional 29,480 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Minerva Neurosciences by 63,940.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,404 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 6,394 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Minerva Neurosciences by 11.0% during the 1st quarter. TD Asset Management Inc. now owns 57,247 shares of the biopharmaceutical company’s stock worth $450,000 after purchasing an additional 5,654 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Minerva Neurosciences by 24.4% during the first quarter. Handelsbanken Fonder AB now owns 255,000 shares of the biopharmaceutical company’s stock worth $2,004,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 74.24% of the company’s stock.
About Minerva Neurosciences
Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.
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