Minerva Neurosciences (NERV) Downgraded to Strong Sell at ValuEngine

Minerva Neurosciences (NASDAQ:NERV) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Minerva Neurosciences from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub raised shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Minerva Neurosciences presently has a consensus rating of “Hold” and an average price target of $13.94.

Shares of Minerva Neurosciences (NASDAQ:NERV) traded down $0.25 during trading hours on Friday, reaching $6.20. 274,744 shares of the company’s stock were exchanged, compared to its average volume of 235,310. Minerva Neurosciences has a 12-month low of $4.80 and a 12-month high of $11.15. The company has a market cap of $239.94, a price-to-earnings ratio of -5.59 and a beta of 1.49.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter. During the same period in the previous year, the company earned ($0.24) EPS. analysts predict that Minerva Neurosciences will post -1.28 earnings per share for the current fiscal year.

In other news, CFO Geoff Race sold 5,829 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $5.79, for a total value of $33,749.91. Following the transaction, the chief financial officer now owns 197,698 shares of the company’s stock, valued at approximately $1,144,671.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 12,590 shares of company stock worth $73,073 in the last ninety days. Insiders own 21.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Minerva Neurosciences by 13.7% in the 2nd quarter. FMR LLC now owns 5,660,794 shares of the biopharmaceutical company’s stock valued at $50,098,000 after purchasing an additional 680,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Minerva Neurosciences by 14.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,074,239 shares of the biopharmaceutical company’s stock valued at $9,507,000 after purchasing an additional 134,942 shares during the last quarter. Sphera Funds Management LTD. boosted its stake in shares of Minerva Neurosciences by 31.9% in the 3rd quarter. Sphera Funds Management LTD. now owns 625,000 shares of the biopharmaceutical company’s stock valued at $4,750,000 after purchasing an additional 151,231 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Minerva Neurosciences in the 3rd quarter valued at about $2,835,000. Finally, State Street Corp boosted its stake in shares of Minerva Neurosciences by 16.9% in the 2nd quarter. State Street Corp now owns 350,584 shares of the biopharmaceutical company’s stock valued at $3,103,000 after purchasing an additional 50,637 shares during the last quarter. 73.65% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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