Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) reached a new 52-week low on Friday . The stock traded as low as $6.00 and last traded at $6.00, with a volume of 94,379 shares traded. The stock had previously closed at $6.10.
NERV has been the subject of several recent research reports. Zacks Investment Research raised shares of Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research note on Wednesday, August 9th. ValuEngine downgraded shares of Minerva Neurosciences from a “sell” rating to a “strong sell” rating in a research note on Monday, May 29th. BidaskClub downgraded shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, JMP Securities reissued an “outperform” rating and issued a $20.00 price target (up from $17.00) on shares of Minerva Neurosciences in a research note on Thursday, June 1st. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Minerva Neurosciences currently has an average rating of “Hold” and an average price target of $14.83.
The firm has a 50 day moving average of $7.67 and a 200-day moving average of $8.29. The firm’s market capitalization is $252.93 million.
Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.07. During the same quarter in the prior year, the business posted ($0.18) earnings per share. On average, analysts anticipate that Minerva Neurosciences, Inc will post ($1.19) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Minerva Neurosciences by 11.4% in the fourth quarter. State Street Corp now owns 275,144 shares of the biopharmaceutical company’s stock valued at $3,231,000 after buying an additional 28,110 shares during the period. AQR Capital Management LLC raised its stake in Minerva Neurosciences by 24.0% in the fourth quarter. AQR Capital Management LLC now owns 34,521 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 6,675 shares during the period. Norges Bank purchased a new stake in Minerva Neurosciences during the fourth quarter valued at about $839,000. Bank of New York Mellon Corp raised its stake in Minerva Neurosciences by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 80,201 shares of the biopharmaceutical company’s stock valued at $649,000 after buying an additional 1,286 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in Minerva Neurosciences by 35.7% in the first quarter. Handelsbanken Fonder AB now owns 95,000 shares of the biopharmaceutical company’s stock valued at $770,000 after buying an additional 25,000 shares during the period. Hedge funds and other institutional investors own 62.69% of the company’s stock.
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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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