Minerva Neurosciences Inc (NASDAQ:NERV) was the recipient of a significant increase in short interest during the month of November. As of November 29th, there was short interest totalling 3,630,000 shares, an increase of 12.7% from the November 14th total of 3,220,000 shares. Based on an average daily trading volume, of 385,100 shares, the days-to-cover ratio is presently 9.4 days. Approximately 11.2% of the shares of the stock are short sold.
Several research firms have issued reports on NERV. ValuEngine lowered shares of Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 30th. William Blair began coverage on shares of Minerva Neurosciences in a research report on Wednesday, September 18th. They issued an “outperform” rating and a $26.00 price target on the stock. BidaskClub upgraded shares of Minerva Neurosciences from a “buy” rating to a “strong-buy” rating in a research report on Friday. Chardan Capital restated a “buy” rating on shares of Minerva Neurosciences in a research report on Monday, December 2nd. Finally, Zacks Investment Research lowered shares of Minerva Neurosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.44.
Minerva Neurosciences stock traded down $0.10 during mid-day trading on Friday, hitting $7.45. The company’s stock had a trading volume of 305,889 shares, compared to its average volume of 351,692. Minerva Neurosciences has a twelve month low of $4.01 and a twelve month high of $8.83. The stock’s fifty day moving average price is $5.56 and its two-hundred day moving average price is $6.02.
Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. As a group, equities analysts predict that Minerva Neurosciences will post -1.48 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc. boosted its stake in Minerva Neurosciences by 2.8% in the 2nd quarter. TD Asset Management Inc. now owns 58,847 shares of the biopharmaceutical company’s stock worth $331,000 after purchasing an additional 1,600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Minerva Neurosciences in the 3rd quarter worth approximately $35,000. Public Employees Retirement System of Ohio acquired a new position in Minerva Neurosciences in the 2nd quarter worth approximately $54,000. Parametric Portfolio Associates LLC acquired a new position in Minerva Neurosciences in the 2nd quarter worth approximately $56,000. Finally, Meeder Asset Management Inc. boosted its stake in Minerva Neurosciences by 774.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 12,608 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 11,166 shares during the period. 78.94% of the stock is owned by hedge funds and other institutional investors.
Minerva Neurosciences Company Profile
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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