Minerva Neurosciences (NASDAQ:NERV) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Minerva Neurosciences, Inc (NASDAQ:NERV)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.43 and traded as low as $4.33. Minerva Neurosciences shares last traded at $4.35, with a volume of 126,440 shares.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Friday, March 27th. Citizens Jmp began coverage on shares of Minerva Neurosciences in a report on Wednesday, April 15th. They issued a “market outperform” rating and a $14.00 target price for the company. HC Wainwright reiterated a “neutral” rating and issued a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Finally, Wall Street Zen lowered shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.50.

Minerva Neurosciences Price Performance

The company’s fifty day simple moving average is $5.43 and its 200-day simple moving average is $5.35. The firm has a market capitalization of $202.67 million, a PE ratio of -0.15 and a beta of -0.18.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.04). As a group, equities research analysts anticipate that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Minerva Neurosciences

Large investors have recently modified their holdings of the business. Vivo Capital LLC acquired a new stake in Minerva Neurosciences in the 4th quarter worth approximately $17,377,000. Janus Henderson Group PLC increased its stake in Minerva Neurosciences by 47,614.0% during the 1st quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock valued at $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Federated Hermes Inc. raised its holdings 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 buying an additional 4,020,500 shares during the last quarter. Logos Global Management LP acquired a new stake in shares of Minerva Neurosciences during the fourth quarter worth $13,310,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Minerva Neurosciences during the fourth quarter worth $11,409,000. 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.