Wall Street Zen Upgrades Minerva Neurosciences (NASDAQ:NERV) to “Hold”

Minerva Neurosciences (NASDAQ:NERV) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, December 29th. HC Wainwright reduced their price target on shares of 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 research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Minerva Neurosciences currently has a consensus rating of “Reduce” and an average price target of $4.00.

Minerva Neurosciences Stock Up 5.9%

Shares of NASDAQ:NERV opened at $6.60 on Friday. Minerva Neurosciences has a 12-month low of $1.15 and a 12-month high of $12.46. The firm has a market cap of $285.58 million, a P/E ratio of -3.57 and a beta of -0.32. The business has a fifty day simple moving average of $4.87 and a 200 day simple moving average of $3.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NERV. Vivo Capital LLC purchased a new stake in Minerva Neurosciences in the fourth quarter worth about $17,377,000. Federated Hermes Inc. raised its position in shares of Minerva Neurosciences by 297.5% in the 4th quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock worth $21,595,000 after purchasing an additional 4,020,500 shares during the last quarter. Logos Global Management LP bought a new position in Minerva Neurosciences in the 4th quarter worth about $13,310,000. Adage Capital Partners GP L.L.C. purchased a new position in Minerva Neurosciences in the fourth quarter worth about $11,409,000. Finally, Farallon Capital Management LLC purchased a new position in Minerva Neurosciences in the fourth quarter worth 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.