Minerva Neurosciences (NASDAQ:NERV) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Sunday, December 31st.
Separately, Zacks Investment Research raised shares of Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.94.
Minerva Neurosciences (NASDAQ NERV) opened at $6.25 on Friday. The firm has a market cap of $241.88, a price-to-earnings ratio of -5.63 and a beta of 1.53. Minerva Neurosciences has a 1-year low of $4.80 and a 1-year high of $11.90.
Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter. During the same quarter last year, the company earned ($0.24) EPS. equities analysts predict that Minerva Neurosciences will post -1.28 earnings per share for the current year.
In other Minerva Neurosciences news, CFO Geoff Race sold 5,829 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $5.79, for a total value of $33,749.91. Following the completion of the sale, the chief financial officer now directly owns 197,698 shares in the company, valued at $1,144,671.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 12,590 shares of company stock valued at $73,073. 21.60% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its holdings in shares of Minerva Neurosciences by 25.2% during the third quarter. Sterling Capital Management LLC now owns 52,135 shares of the biopharmaceutical company’s stock worth $396,000 after purchasing an additional 10,479 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Minerva Neurosciences by 64.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 57,000 shares of the biopharmaceutical company’s stock valued at $434,000 after buying an additional 22,400 shares in the last quarter. Trexquant Investment LP purchased a new position in Minerva Neurosciences in the third quarter valued at $189,000. JPMorgan Chase & Co. purchased a new position in Minerva Neurosciences in the third quarter valued at $2,835,000. Finally, Sphera Funds Management LTD. increased its holdings in Minerva Neurosciences by 31.9% in the third quarter. Sphera Funds Management LTD. now owns 625,000 shares of the biopharmaceutical company’s stock valued at $4,750,000 after buying an additional 151,231 shares in the last quarter. 73.68% of the stock is owned by hedge funds and other institutional investors.
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About Minerva Neurosciences
Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio and indications include MIN-101 for the treatment of schizophrenia; MIN-202, for the treatment of insomnia disorder and major depressive disorder (MDD); MIN-117, for the treatment of MDD, and MIN-301 for the treatment of Parkinson’s disease.
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