Minerva Neurosciences, Inc (NASDAQ:NERV) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) have earned a consensus rating of “Hold” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.33.

A number of research firms recently commented on NERV. Zacks Research raised shares of Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Wall Street Zen lowered shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, September 21st. Finally, Jefferies Financial Group raised Minerva Neurosciences from a “hold” rating to a “mixed” rating and upped their price target for the stock from $7.50 to $10.00 in a research report on Friday, August 14th.

Minerva Neurosciences Stock Performance

NERV opened at $2.35 on Wednesday. The business’s 50-day moving average is $3.39 and its two-hundred day moving average is $4.86. Minerva Neurosciences has a 1 year low of $1.96 and a 1 year high of $8.80.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp acquired a new position in Minerva Neurosciences during the 1st quarter valued at about $62,000. Bank of America Corp DE grew its stake in shares of Minerva Neurosciences by 78,272.5% during the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 39,919 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Minerva Neurosciences during the second quarter worth about $419,000. DV Trading LLC purchased a new stake in shares of Minerva Neurosciences during the first quarter worth about $5,358,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Minerva Neurosciences during the first quarter valued at about $6,855,000. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

About Minerva Neurosciences

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

Minerva’s lead product candidate has been roluperidone, an investigational therapy designed to address the negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.