StockNews.com Begins Coverage on Minerva Neurosciences (NASDAQ:NERV)

StockNews.com assumed coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a report released on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Minerva Neurosciences in a report on Wednesday, February 26th.

Minerva Neurosciences Trading Down 8.4 %

NERV stock opened at $1.53 on Friday. The company’s 50-day moving average price is $2.13 and its 200 day moving average price is $2.36. Minerva Neurosciences has a 52 week low of $1.53 and a 52 week high of $3.69. The company has a market cap of $10.70 million, a P/E ratio of -3.48 and a beta of 0.12.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.49. On average, equities research analysts expect that Minerva Neurosciences will post -0.3 earnings per share for the current year.

Institutional Trading of Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Northern Trust Corp boosted its stake in Minerva Neurosciences, Inc. (NASDAQ:NERV) by 60.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,878 shares of the biopharmaceutical company’s stock after buying an additional 13,829 shares during the quarter. Northern Trust Corp owned approximately 0.53% of Minerva Neurosciences worth $82,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 34.56% of the company’s stock.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.