Minerva Neurosciences (NASDAQ:NERV) Issues Quarterly Earnings Results, Misses Estimates By $1.46 EPS

Minerva Neurosciences (NASDAQ:NERV) posted its quarterly earnings results on Friday. The biopharmaceutical company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($1.46), Zacks reports.

Minerva Neurosciences Trading Up 5.2%

Shares of Minerva Neurosciences stock traded up $0.12 during mid-day trading on Friday, reaching $2.42. 238,027 shares of the stock were exchanged, compared to its average volume of 175,064. Minerva Neurosciences has a fifty-two week low of $1.96 and a fifty-two week high of $8.80. The company has a market cap of $115.56 million, a price-to-earnings ratio of -0.08 and a beta of 0.09. The firm has a 50-day simple moving average of $3.22 and a 200 day simple moving average of $4.83.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised Minerva Neurosciences from a “hold” rating to a “mixed” rating and lifted their price objective for the company from $7.50 to $10.00 in a report on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Monday, September 21st. Wall Street Zen cut Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Finally, Zacks Research upgraded Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.33.

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.