Minerva Neurosciences (NASDAQ:NERV) Shares Pass Below 200 Day Moving Average – Should You Sell?

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.39 and traded as low as $5.13. Minerva Neurosciences shares last traded at $5.15, with a volume of 124,223 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NERV shares. Wall Street Zen lowered Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp began coverage on Minerva Neurosciences in a research report on Wednesday, April 15th. They issued a “market outperform” rating and a $14.00 target price on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a research note on Thursday, March 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Minerva Neurosciences Price Performance

The company’s 50 day moving average price is $5.26 and its 200 day moving average price is $5.39. The firm has a market cap of $239.94 million, a PE ratio of -0.18 and a beta of -0.16.

Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.04). Sell-side analysts expect that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Minerva Neurosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC acquired a new stake in shares of Minerva Neurosciences during the fourth quarter worth about $36,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Minerva Neurosciences in the 1st quarter valued at about $62,000. State Street Corp grew its stake in Minerva Neurosciences by 45.4% during the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 7,500 shares during the last quarter. Cannon Global Investment Management LLC purchased a new position in Minerva Neurosciences during the 1st quarter worth approximately $107,000. Finally, Apella Capital LLC increased its position in Minerva Neurosciences by 7.8% during the fourth quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 3,066 shares during the period. Institutional investors and hedge funds 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.