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

A number of other research firms have also recently issued reports on NERV. JMP Securities reiterated an “outperform” rating and issued a $20.00 price objective (up from $17.00) on shares of Minerva Neurosciences in a report on Thursday, June 1st. ValuEngine cut Minerva Neurosciences from a “sell” rating to a “strong sell” rating in a report on Monday, May 29th. BidaskClub cut Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, Citigroup Inc. assumed coverage on Minerva Neurosciences in a report on Friday, September 1st. They issued a “buy” rating and a $11.00 price objective for the company. Two 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 an average rating of “Hold” and an average target price of $13.94.

Shares of Minerva Neurosciences (NASDAQ NERV) traded down 1.36% during mid-day trading on Friday, hitting $7.25. The stock had a trading volume of 608,062 shares. The stock’s market cap is $308.19 million. The firm has a 50 day moving average price of $6.53 and a 200-day moving average price of $7.79. Minerva Neurosciences has a 12 month low of $5.55 and a 12 month high of $14.92.

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

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Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors boosted its holdings in Minerva Neurosciences by 14.2% during the 2nd quarter. Nationwide Fund Advisors now owns 13,005 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 1,616 shares during the period. Citadel Advisors LLC purchased a new stake in Minerva Neurosciences during the 1st quarter valued at about $110,000. Russell Investments Group Ltd. boosted its holdings in Minerva Neurosciences by 54.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 15,794 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 5,579 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Minerva Neurosciences during the 2nd quarter valued at about $145,000. Finally, State of Wisconsin Investment Board purchased a new stake in Minerva Neurosciences during the 2nd quarter valued at about $159,000. Institutional investors own 69.29% 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 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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