Minerva Neurosciences (NASDAQ:NERV) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, ValuEngine reports.
Other research analysts have also issued reports about the stock. HC Wainwright started coverage on shares of Minerva Neurosciences in a research note on Friday, May 31st. They set a “buy” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, BidaskClub lowered shares of Minerva Neurosciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th.
NASDAQ NERV opened at $6.68 on Tuesday. The firm has a market capitalization of $272.01 million, a price-to-earnings ratio of -5.18 and a beta of 1.60. Minerva Neurosciences has a one year low of $4.07 and a one year high of $12.95. The company has a fifty day simple moving average of $6.19.
Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.10. As a group, analysts expect that Minerva Neurosciences will post -1.71 EPS for the current fiscal year.
In related news, major shareholder Venture Associates L. Index III sold 36,574 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $7.05, for a total transaction of $257,846.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Venture Associates L. Index III sold 60,051 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $4.69, for a total transaction of $281,639.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 670,558 shares of company stock worth $3,694,870. Company insiders own 12.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its holdings in Minerva Neurosciences by 63,940.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,404 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 6,394 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Minerva Neurosciences during the second quarter worth about $62,000. Metropolitan Life Insurance Co. NY boosted its holdings in Minerva Neurosciences by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,515 shares of the biopharmaceutical company’s stock worth $78,000 after buying an additional 8,993 shares in the last quarter. Algert Global LLC purchased a new stake in Minerva Neurosciences during the first quarter worth about $120,000. Finally, Bank of America Corp DE boosted its holdings in Minerva Neurosciences by 17.0% during the fourth quarter. Bank of America Corp DE now owns 20,412 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 2,963 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
About Minerva Neurosciences
Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.
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