Minerva Neurosciences (NASDAQ:NERV) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a research note issued on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

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

Minerva Neurosciences Price Performance

NASDAQ:NERV opened at $1.53 on Friday. The firm has a market cap of $10.70 million, a PE ratio of -3.48 and a beta of 0.12. The firm has a 50 day simple moving average of $2.13 and a 200-day simple moving average of $2.36. Minerva Neurosciences has a 1-year low of $1.53 and a 1-year high of $3.69.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.49. As a group, sell-side analysts expect that Minerva Neurosciences will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Minerva Neurosciences

An institutional investor recently raised its position in Minerva Neurosciences stock. Citadel Advisors LLC grew its position in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,764 shares of the biopharmaceutical company’s stock after acquiring an additional 8,525 shares during the quarter. Citadel Advisors LLC owned about 0.37% of Minerva Neurosciences worth $57,000 at the end of the most recent quarter. 34.56% of the stock is owned by institutional investors.

About Minerva Neurosciences

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.