Zacks Investment Research Lowers Minerva Neurosciences (NERV) to Hold

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Zacks Investment Research cut shares of Minerva Neurosciences (NASDAQ:NERV) from a buy rating to a hold rating in a research note released on Friday.

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. “

A number of other analysts have also commented on NERV. BidaskClub lowered shares of Minerva Neurosciences from a strong-buy rating to a buy rating in a research note on Tuesday, October 9th. ValuEngine lowered shares of Minerva Neurosciences from a strong-buy rating to a buy rating in a research note on Tuesday, December 18th.

Shares of NERV stock opened at $7.59 on Friday. The firm has a market cap of $295.81 million, a price-to-earnings ratio of -7.03 and a beta of 1.60. Minerva Neurosciences has a 12 month low of $5.00 and a 12 month high of $12.95.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.07. On average, equities research analysts forecast that Minerva Neurosciences will post -1.28 earnings per share for the current fiscal year.

In other news, CFO Geoff Race sold 5,999 shares of the company’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $7.46, for a total value of $44,752.54. Following the completion of the sale, the chief financial officer now owns 204,369 shares in the company, valued at approximately $1,524,592.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William F. Doyle bought 6,000 shares of Minerva Neurosciences stock in a transaction dated Tuesday, December 11th. The stock was purchased at an average price of $7.97 per share, with a total value of $47,820.00. Following the purchase, the director now owns 16,611 shares in the company, valued at $132,389.67. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 10,000 shares of company stock valued at $77,220 and have sold 16,007 shares valued at $120,971. Insiders own 9.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NERV. Russell Investments Group Ltd. bought a new stake in shares of Minerva Neurosciences in the 2nd quarter worth $925,000. Schwab Charles Investment Management Inc. grew its position in Minerva Neurosciences by 38.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 65,567 shares of the biopharmaceutical company’s stock valued at $541,000 after buying an additional 18,267 shares during the period. BlackRock Inc. grew its position in Minerva Neurosciences by 11.2% during the second quarter. BlackRock Inc. now owns 2,181,703 shares of the biopharmaceutical company’s stock valued at $17,998,000 after buying an additional 219,405 shares during the period. Dimensional Fund Advisors LP grew its position in Minerva Neurosciences by 40.4% during the second quarter. Dimensional Fund Advisors LP now owns 391,041 shares of the biopharmaceutical company’s stock valued at $3,226,000 after buying an additional 112,461 shares during the period. Finally, Renaissance Technologies LLC grew its position in Minerva Neurosciences by 241.1% during the second quarter. Renaissance Technologies LLC now owns 176,000 shares of the biopharmaceutical company’s stock valued at $1,452,000 after buying an additional 124,400 shares during the period. Hedge funds and other institutional investors own 75.09% of the company’s stock.

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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