Minerva Neurosciences (NASDAQ:NERV) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Minerva Neurosciences, Inc (NASDAQ:NERV) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.40 and traded as low as $4.39. Minerva Neurosciences shares last traded at $4.69, with a volume of 151,122 shares.

Wall Street Analysts Forecast Growth

NERV has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of Minerva Neurosciences from a “hold” rating to a “mixed” rating and raised their target price for the company from $7.50 to $10.00 in a report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Wednesday, June 24th. Zacks Research lowered shares of Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $10.33.

Minerva Neurosciences Trading Down 5.5%

The firm has a market capitalization of $211.53 million, a P/E ratio of -0.15 and a beta of -0.08. The firm has a 50 day moving average price of $4.54 and a 200-day moving average price of $5.40.

Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. Research analysts anticipate that Minerva Neurosciences, Inc will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Minerva Neurosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vivo Capital LLC bought a new position in Minerva Neurosciences during the 4th quarter valued at about $17,377,000. Janus Henderson Group PLC lifted its stake in Minerva Neurosciences by 47,614.0% in the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock worth $25,873,000 after purchasing an additional 4,285,259 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Minerva Neurosciences by 297.5% during the fourth quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock valued at $21,595,000 after buying an additional 4,020,500 shares during the period. Logos Global Management LP purchased a new position in shares of Minerva Neurosciences during the fourth quarter valued at approximately $13,310,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Minerva Neurosciences during the fourth quarter valued at approximately $11,409,000. Hedge funds and other 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.