Minerva Neurosciences (NASDAQ:NERV) Upgraded at Wall Street Zen

Minerva Neurosciences (NASDAQ:NERV) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts have also weighed in on NERV. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, December 29th. HC Wainwright lowered their price objective on Minerva Neurosciences from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $4.00.

Minerva Neurosciences Stock Performance

Minerva Neurosciences stock opened at $6.60 on Friday. Minerva Neurosciences has a fifty-two week low of $1.15 and a fifty-two week high of $12.46. The stock’s 50 day simple moving average is $4.87 and its two-hundred day simple moving average is $3.72. The stock has a market cap of $285.58 million, a price-to-earnings ratio of -3.57 and a beta of -0.22.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew its stake in shares of Minerva Neurosciences by 297.5% in the fourth quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock worth $21,595,000 after acquiring an additional 4,020,500 shares during the last quarter. Vivo Capital LLC bought a new position in Minerva Neurosciences in the 4th quarter worth about $17,377,000. Logos Global Management LP purchased a new stake in Minerva Neurosciences during the 4th quarter valued at about $13,310,000. Adage Capital Partners GP L.L.C. purchased a new stake in Minerva Neurosciences during the 4th quarter valued at about $11,409,000. Finally, Farallon Capital Management LLC bought a new stake in Minerva Neurosciences during the 4th quarter valued at about $9,507,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.