Minerva Neurosciences, Inc (NASDAQ:NERV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of a portfolio of product candidates to treat central nervous system diseases. The Company’s pipeline will initially target the treatment of schizophrenia, major depressive disorder (MDD), insomnia, and Parkinson’s disease. Its product candidates include MIN-101, MIN-117, MIN-202 and MIN-301. Minerva Neurosciences, Inc. is based in Cambridge, MA, United States. “

NERV has been the subject of a number of other research reports. Citigroup Inc. started coverage on Minerva Neurosciences in a research note on Friday, September 1st. They set a “buy” rating and a $11.00 price objective for the company. ValuEngine lowered Minerva Neurosciences from a “sell” rating to a “strong sell” rating in a research note on Monday, May 29th. JMP Securities reiterated an “outperform” rating and set a $20.00 price objective (up previously from $17.00) on shares of Minerva Neurosciences in a research note on Thursday, June 1st. Finally, BidaskClub lowered Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. 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. Minerva Neurosciences has a consensus rating of “Hold” and an average target price of $13.69.

Minerva Neurosciences (NASDAQ:NERV) traded down 3.50% during mid-day trading on Friday, reaching $6.90. The company’s stock had a trading volume of 245,903 shares. Minerva Neurosciences has a one year low of $5.55 and a one year high of $14.92. The company’s market capitalization is $293.31 million. The stock has a 50-day moving average price of $6.57 and a 200-day moving average price of $7.85.

Minerva Neurosciences (NASDAQ:NERV) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.07. During the same period in the previous year, the business posted ($0.18) earnings per share. Equities research analysts forecast that Minerva Neurosciences will post ($0.90) EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Minerva Neurosciences during the 2nd quarter valued at about $145,000. Sterling Capital Management LLC raised its stake in shares of Minerva Neurosciences by 174.6% during the 2nd quarter. Sterling Capital Management LLC now owns 41,656 shares of the biopharmaceutical company’s stock valued at $369,000 after buying an additional 26,485 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Minerva Neurosciences by 7.5% during the 2nd quarter. California State Teachers Retirement System now owns 44,537 shares of the biopharmaceutical company’s stock valued at $394,000 after buying an additional 3,100 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Minerva Neurosciences by 38.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,359 shares of the biopharmaceutical company’s stock valued at $198,000 after buying an additional 6,251 shares during the last quarter. Finally, EcoR1 Capital LLC purchased a new position in shares of Minerva Neurosciences during the 2nd quarter valued at about $1,981,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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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