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

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.99 and traded as low as $3.17. Minerva Neurosciences shares last traded at $3.23, with a volume of 89,215 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Minerva Neurosciences from a “hold” rating to a “mixed” rating and raised their price target for the stock from $7.50 to $10.00 in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Monday, September 21st. Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered shares of Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Minerva Neurosciences presently has an average rating of “Reduce” and an average target price of $10.33.

Minerva Neurosciences Trading Up 1.5%

The company has a market cap of $156.62 million, a price-to-earnings ratio of -0.11 and a beta of -0.10. The firm’s fifty day simple moving average is $4.17 and its 200 day simple moving average is $4.97.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. As a group, sell-side analysts expect that Minerva Neurosciences, Inc will post -0.73 EPS for the current year.

Institutional Trading of Minerva Neurosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in Minerva Neurosciences by 47,614.0% during the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock worth $25,873,000 after buying an additional 4,285,259 shares during the period. Seven Fleet Capital Management LP purchased a new position in shares of Minerva Neurosciences during the first quarter worth about $6,855,000. Spruce Street Capital LP purchased a new position in shares of Minerva Neurosciences in the 4th quarter valued at approximately $6,655,000. DV Trading LLC acquired a new position in Minerva Neurosciences in the 1st quarter valued at $5,358,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Minerva Neurosciences during the second quarter worth about $419,000. Institutional investors and hedge funds own 34.56% of the company’s stock.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company’s research has centered on therapies for conditions with significant unmet medical needs, including schizophrenia, depression and other neuropsychiatric diseases.

Minerva’s leading investigational product has been roluperidone, formerly known as MIN-101. The orally administered compound is designed to address negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.