Minerva Neurosciences Inc. (NERV) Trading Up 3.5%
Minerva Neurosciences Inc. (NASDAQ:NERV) shares were up 3.5% during trading on Tuesday . The stock traded as high as $14.40 and last traded at $14.33, with a volume of 126,588 shares. The stock had previously closed at $13.84.
Several research analysts recently commented on NERV shares. JMP Securities raised their target price on Minerva Neurosciences from $10.00 to $17.00 in a research report on Thursday, May 26th. Jefferies Group reaffirmed a “buy” rating and issued a $17.00 target price (up from $10.00) on shares of Minerva Neurosciences in a research report on Friday, May 27th. Finally, Zacks Investment Research cut Minerva Neurosciences from a “buy” rating to a “sell” rating in a research report on Wednesday, June 1st.
The stock’s 50-day moving average price is $12.37 and its 200 day moving average price is $9.18. The company’s market capitalization is $500.15 million.
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Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. During the same period last year, the business earned ($0.27) EPS. Equities analysts anticipate that Minerva Neurosciences Inc. will post ($0.90) EPS for the current year.
In other Minerva Neurosciences news, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $10.00, for a total value of $10,000,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 28.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NERV. Nationwide Fund Advisors acquired a new stake in shares of Minerva Neurosciences during the second quarter valued at $106,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Minerva Neurosciences during the second quarter valued at $107,000. Highbridge Capital Management LLC acquired a new stake in shares of Minerva Neurosciences during the second quarter valued at $138,000. Sterling Capital Management LLC increased its stake in shares of Minerva Neurosciences by 36.1% in the second quarter. Sterling Capital Management LLC now owns 13,613 shares of the biopharmaceutical company’s stock valued at $139,000 after buying an additional 3,613 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Minerva Neurosciences during the second quarter valued at $156,000. Hedge funds and other institutional investors own 63.19% of the company’s stock.
Minerva Neurosciences Company Profile
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 include MIN-101 for the treatment of schizophrenia; MIN-117 for the treatment of major depressive disorder (MDD); MIN-202 (also known as JNJ-42847922) for the treatment of insomnia disorder and adjunctive MDD, and MIN-301 for the treatment of Parkinson’s disease.
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