Minerva Neurosciences (NASDAQ:NERV) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Minerva Neurosciences (NASDAQ:NERV) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04), FiscalAI reports.

Minerva Neurosciences Stock Performance

Minerva Neurosciences stock traded down $0.10 during mid-day trading on Thursday, reaching $6.13. The company’s stock had a trading volume of 71,914 shares, compared to its average volume of 203,521. Minerva Neurosciences has a 12-month low of $1.30 and a 12-month high of $12.46. The company has a market capitalization of $268.75 million, a P/E ratio of -0.21 and a beta of -0.08. The firm’s fifty day moving average price is $6.52 and its two-hundred day moving average price is $5.13.

Analyst Upgrades and Downgrades

NERV has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Friday, March 27th. Citizens Jmp assumed coverage on Minerva Neurosciences in a report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a research report on Thursday, March 12th. Finally, Wall Street Zen raised shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.50.

Hedge Funds Weigh In On Minerva Neurosciences

Several hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of Minerva Neurosciences by 45.4% during the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 7,500 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Minerva Neurosciences in the 4th quarter valued at $36,000. Renaissance Technologies LLC grew its holdings in shares of Minerva Neurosciences by 28.1% during the 4th quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock valued at $600,000 after purchasing an additional 32,700 shares during the last quarter. Millennium Management LLC bought a new position in shares of Minerva Neurosciences during the 4th quarter valued at $554,000. Finally, Ally Bridge Group NY LLC bought a new stake in Minerva Neurosciences in the fourth quarter worth $6,655,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.