Minerva Neurosciences Inc (NASDAQ:NERV) Short Interest Update
Minerva Neurosciences Inc (NASDAQ:NERV) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,840,000 shares, an increase of 11.8% from the September 30th total of 2,540,000 shares. Currently, 8.8% of the shares of the stock are sold short. Based on an average trading volume of 344,900 shares, the short-interest ratio is presently 8.2 days.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc. increased its stake in Minerva Neurosciences by 2.8% in the 2nd quarter. TD Asset Management Inc. now owns 58,847 shares of the biopharmaceutical company’s stock worth $331,000 after purchasing an additional 1,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Minerva Neurosciences in the 3rd quarter worth about $35,000. Public Employees Retirement System of Ohio purchased a new position in Minerva Neurosciences in the 2nd quarter worth about $54,000. Parametric Portfolio Associates LLC purchased a new position in Minerva Neurosciences in the 2nd quarter worth about $56,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Minerva Neurosciences in the 2nd quarter worth about $62,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on NERV shares. Zacks Investment Research lowered Minerva Neurosciences from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Chardan Capital reaffirmed a “buy” rating and set a $17.00 target price on shares of Minerva Neurosciences in a report on Tuesday, October 1st. William Blair started coverage on Minerva Neurosciences in a report on Wednesday, September 18th. They set an “outperform” rating and a $26.00 target price on the stock. ValuEngine lowered Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a report on Monday, September 30th. Finally, BidaskClub raised Minerva Neurosciences from a “strong sell” rating to a “sell” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Minerva Neurosciences currently has a consensus rating of “Buy” and a consensus price target of $17.44.
Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.01. Analysts anticipate that Minerva Neurosciences will post -1.48 earnings per share for the current fiscal year.
About Minerva Neurosciences
Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.
Recommended Story: The risks of owning bonds
Receive News & Ratings for Minerva Neurosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerva Neurosciences and related companies with MarketBeat.com's FREE daily email newsletter.