Minerva Neurosciences (NASDAQ:NERV) Stock Gets Downgrade from Wall Street Zen

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

Other equities analysts also recently issued reports about the stock. Zacks Research upgraded shares of Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Jefferies Financial Group raised Minerva Neurosciences from a “hold” rating to a “mixed” rating and upped their target price for the company from $7.50 to $10.00 in a research note on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Monday, September 21st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.33.

Minerva Neurosciences Price Performance

Minerva Neurosciences stock opened at $2.32 on Friday. The company has a 50 day moving average of $3.49 and a 200-day moving average of $4.88. The stock has a market capitalization of $110.78 million, a PE ratio of -0.08 and a beta of 0.09. Minerva Neurosciences has a twelve month low of $1.96 and a twelve month high of $8.80.

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

Hedge Funds Weigh In On Minerva Neurosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP acquired a new stake in Minerva Neurosciences during the first quarter valued at $6,855,000. DV Trading LLC acquired a new stake in shares of Minerva Neurosciences in the first quarter valued at approximately $5,358,000. Janus Henderson Group PLC lifted its stake 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 valued at $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Minerva Neurosciences during the 2nd quarter worth $419,000. Finally, Bank of America Corp DE grew its holdings in Minerva Neurosciences by 78,272.5% in the 1st quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock worth $241,000 after buying an additional 39,919 shares in the last quarter. 34.56% of the stock is currently owned by institutional investors.

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.