Minerva Neurosciences (NASDAQ:NERV) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Minerva Neurosciences (NASDAQ:NERV) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning, BidAskClub reports.

Several other equities research analysts have also recently issued reports on the stock. JMP Securities dropped their target price on shares of Minerva Neurosciences from $20.00 to $18.00 and set a market outperform rating on the stock in a report on Thursday, December 19th. Chardan Capital reaffirmed a buy rating on shares of Minerva Neurosciences in a research note on Monday, December 2nd. HC Wainwright reiterated a buy rating and issued a $20.00 price target (down from $22.00) on shares of Minerva Neurosciences in a report on Thursday, December 19th. ValuEngine lowered shares of Minerva Neurosciences from a strong-buy rating to a buy rating in a research note on Monday, September 30th. Finally, Zacks Investment Research lowered shares of Minerva Neurosciences from a buy rating to a hold rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Minerva Neurosciences currently has an average rating of Buy and an average target price of $17.15.

Shares of NASDAQ NERV opened at $8.36 on Friday. Minerva Neurosciences has a twelve month low of $4.01 and a twelve month high of $9.23. The firm has a market capitalization of $326.25 million, a P/E ratio of -5.85 and a beta of 1.67. The stock’s 50-day simple moving average is $7.04 and its two-hundred day simple moving average is $6.42.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. On average, sell-side analysts expect that Minerva Neurosciences will post -1.48 EPS for the current fiscal year.

In other Minerva Neurosciences news, CFO Geoff Race sold 5,826 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $7.10, for a total value of $41,364.60. Following the completion of the sale, the chief financial officer now directly owns 210,870 shares in the company, valued at approximately $1,497,177. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 12,519 shares of company stock valued at $88,885 over the last quarter. Company insiders own 12.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Minerva Neurosciences during the third quarter valued at approximately $35,000. Public Employees Retirement System of Ohio bought a new position in Minerva Neurosciences in the second quarter worth approximately $54,000. Parametric Portfolio Associates LLC bought a new position in Minerva Neurosciences in the second quarter worth approximately $56,000. Metropolitan Life Insurance Co NY purchased a new stake in Minerva Neurosciences during the third quarter worth $88,000. Finally, Jane Street Group LLC purchased a new stake in Minerva Neurosciences during the second quarter worth $88,000. Hedge funds and other institutional investors own 78.94% 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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