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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