Minerva Neurosciences (NASDAQ:NERV) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.03 and traded as low as $4.53. Minerva Neurosciences shares last traded at $4.72, with a volume of 195,394 shares changing hands.

Analyst Upgrades and Downgrades

NERV has been the subject of several recent research reports. HC Wainwright reissued a “neutral” rating and issued a $7.00 price objective (up from $4.00) on shares of Minerva Neurosciences in a research report on Thursday, March 12th. Wall Street Zen cut shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Finally, Citizens Jmp initiated coverage on Minerva Neurosciences in a research report on Wednesday, April 15th. They issued a “market outperform” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.50.

Minerva Neurosciences Stock Performance

The company has a market capitalization of $219.90 million, a PE ratio of -0.16 and a beta of -0.16. The company has a 50 day moving average price of $5.03 and a 200 day moving average price of $5.42.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). On average, equities analysts forecast that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Minerva Neurosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC acquired a new stake in shares of Minerva Neurosciences in the 4th quarter valued at about $36,000. OMERS ADMINISTRATION Corp acquired a new position in Minerva Neurosciences in the first quarter worth about $62,000. State Street Corp increased its holdings in Minerva Neurosciences by 45.4% in the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 7,500 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in Minerva Neurosciences in the first quarter valued at about $107,000. Finally, Apella Capital LLC increased its holdings in Minerva Neurosciences by 7.8% in the fourth quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 3,066 shares during the last quarter. Institutional investors own 34.56% of the company’s stock.

About Minerva Neurosciences

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.