Zacks Investment Research upgraded shares of Minerva Neurosciences (NASDAQ:NERV) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of a portfolio of product candidates to treat central nervous system diseases. The Company’s pipeline will initially target the treatment of schizophrenia, major depressive disorder (MDD), insomnia, and Parkinson’s disease. Its product candidates include MIN-101, MIN-117, MIN-202 and MIN-301. Minerva Neurosciences, Inc. is based in Cambridge, MA, United States. “

NERV has been the topic of a number of other reports. BidaskClub raised shares of Acceleron Pharma from a strong sell rating to a sell rating in a report on Friday, May 10th. HC Wainwright set a $25.00 price target on shares of Epizyme and gave the stock a buy rating in a report on Friday, May 31st. Finally, ValuEngine raised shares of ZIX from a buy rating to a strong-buy rating in a report on Saturday, May 4th.

Shares of NASDAQ:NERV opened at $6.65 on Tuesday. The business has a 50-day moving average of $5.35. The stock has a market cap of $260.30 million, a P/E ratio of -5.16 and a beta of 1.59. Minerva Neurosciences has a fifty-two week low of $4.07 and a fifty-two week high of $12.95.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.06). As a group, analysts anticipate that Minerva Neurosciences will post -1.71 EPS for the current fiscal year.

In other Minerva Neurosciences news, major shareholder Venture Associates L. Index III sold 36,574 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $7.05, for a total transaction of $257,846.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Venture Associates L. Index III sold 197,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $6.01, for a total transaction of $1,183,970.00. The disclosure for this sale can be found here. Insiders sold a total of 670,558 shares of company stock worth $3,694,870 over the last three months. 12.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Minerva Neurosciences by 0.4% during the fourth quarter. BlackRock Inc. now owns 2,456,902 shares of the biopharmaceutical company’s stock valued at $16,559,000 after purchasing an additional 8,576 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Minerva Neurosciences by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,602,098 shares of the biopharmaceutical company’s stock valued at $10,798,000 after purchasing an additional 29,480 shares during the last quarter. Millennium Management LLC lifted its holdings in Minerva Neurosciences by 5.9% during the fourth quarter. Millennium Management LLC now owns 1,251,680 shares of the biopharmaceutical company’s stock valued at $8,436,000 after purchasing an additional 69,859 shares during the last quarter. GMT Capital Corp purchased a new stake in Minerva Neurosciences during the first quarter valued at about $7,834,000. Finally, New Leaf Venture Partners L.L.C. lifted its holdings in Minerva Neurosciences by 225.6% during the fourth quarter. New Leaf Venture Partners L.L.C. now owns 423,300 shares of the biopharmaceutical company’s stock valued at $2,853,000 after purchasing an additional 293,300 shares during the last quarter. 77.00% of the stock is currently owned by institutional investors and hedge funds.

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.

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