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

Stock analysts at StockNews.com started coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

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

Minerva Neurosciences Trading Up 4.0 %

NERV opened at $1.70 on Tuesday. The business’s 50 day moving average is $1.97 and its 200-day moving average is $2.28. The stock has a market cap of $11.85 million, a PE ratio of -3.85 and a beta of 0.10. Minerva Neurosciences has a twelve month low of $1.42 and a twelve month high of $3.69.

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

Institutional Investors Weigh In On Minerva Neurosciences

An institutional investor recently raised its position in Minerva Neurosciences stock. Citadel Advisors LLC increased its position in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,764 shares of the biopharmaceutical company’s stock after purchasing an additional 8,525 shares during the period. Citadel Advisors LLC owned 0.37% of Minerva Neurosciences worth $57,000 at the end of the most recent quarter. Institutional investors and hedge funds own 34.56% of the company’s stock.

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.