Minerva Neurosciences (NASDAQ:NERV) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a report issued on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reissued a “neutral” rating and set a $5.00 target price on shares of Minerva Neurosciences in a research note on Wednesday, February 26th.

Minerva Neurosciences Stock Down 2.9 %

NASDAQ NERV opened at $1.81 on Wednesday. The firm has a 50-day moving average price of $1.93 and a two-hundred day moving average price of $2.24. Minerva Neurosciences has a 12-month low of $1.42 and a 12-month high of $3.69. The company has a market capitalization of $12.66 million, a P/E ratio of -4.11 and a beta of 0.10.

Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.49. Equities analysts expect that Minerva Neurosciences will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Minerva Neurosciences stock. Citadel Advisors LLC grew its stake in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,764 shares of the biopharmaceutical company’s stock after purchasing an additional 8,525 shares during the period. Citadel Advisors LLC owned approximately 0.37% of Minerva Neurosciences worth $57,000 as of its most recent filing with the Securities and Exchange Commission. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.