Minerva Neurosciences, Inc (NASDAQ:NERV) Stock Has Consensus Target Price of $10.33

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) have received an average rating of “Hold” from the four research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.33.

Several equities research analysts have issued reports on NERV shares. Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group raised Minerva Neurosciences from a “hold” rating to a “mixed” rating and upped their price target for the company from $7.50 to $10.00 in a research note on Friday, August 14th. Zacks Research upgraded Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, September 21st.

Institutional Investors Weigh In On Minerva Neurosciences

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its holdings in shares of Minerva Neurosciences by 47,614.0% in the 1st quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock worth $25,873,000 after acquiring an additional 4,285,259 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in Minerva Neurosciences in the first quarter valued at approximately $6,855,000. DV Trading LLC purchased a new stake in Minerva Neurosciences in the first quarter valued at approximately $5,358,000. Bank of New York Mellon Corp acquired a new position in Minerva Neurosciences during the second quarter worth $419,000. Finally, Bank of America Corp DE lifted its stake in Minerva Neurosciences by 78,272.5% during the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 39,919 shares in the last quarter. 34.56% of the stock is currently owned by institutional investors and hedge funds.

Minerva Neurosciences Trading Up 1.4%

NASDAQ:NERV opened at $2.23 on Wednesday. The company’s 50-day moving average is $3.64 and its two-hundred day moving average is $4.91. Minerva Neurosciences has a 1-year low of $2.18 and a 1-year high of $8.80.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Equities research analysts predict that Minerva Neurosciences will post -0.73 EPS for the current year.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company’s research has centered on conditions with significant unmet medical needs, including schizophrenia, depression and other psychiatric or neurological diseases.

Minerva’s lead product candidate has been roluperidone, an investigational therapy designed to address the negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.