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.
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.
COPYRIGHT VIOLATION NOTICE: “Minerva Neurosciences (NERV) Downgraded to Strong Sell at ValuEngine” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/02/04/minerva-neurosciences-nerv-downgraded-to-strong-sell-at-valuengine.html.
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.
Receive News & Ratings for Minerva Neurosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerva Neurosciences and related companies with MarketBeat.com's FREE daily email newsletter.