Minerva Neurosciences (NASDAQ:NERV) Stock Crosses Below 50-Day Moving Average – Here’s Why

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.43 and traded as low as $4.33. Minerva Neurosciences shares last traded at $4.35, with a volume of 126,440 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen cut Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp assumed coverage on Minerva Neurosciences in a report on Wednesday, April 15th. They issued a “market outperform” rating and a $14.00 price objective on the stock. HC Wainwright restated a “neutral” rating and issued a $7.00 price objective (up from $4.00) on shares of Minerva Neurosciences in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Friday, March 27th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.50.

Minerva Neurosciences Stock Down 6.7%

The stock’s 50 day moving average price is $5.43 and its two-hundred day moving average price is $5.35. The stock has a market cap of $202.67 million, a price-to-earnings ratio of -0.15 and a beta of -0.18.

Minerva Neurosciences (NASDAQ:NERV) last posted its 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, analysts predict that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Minerva Neurosciences

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