Minerva Neurosciences (NASDAQ:NERV) Upgraded to “Buy” at Zacks Investment Research

Minerva Neurosciences (NASDAQ:NERV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm currently has a $1.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.92% from the company’s previous close.

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. “

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Minerva Neurosciences in a research report on Tuesday, August 3rd.

Shares of NERV opened at $1.06 on Wednesday. Minerva Neurosciences has a 52-week low of $1.03 and a 52-week high of $4.12. The firm has a 50-day moving average price of $1.50 and a 200 day moving average price of $2.03. The firm has a market capitalization of $45.29 million, a PE ratio of -1.25 and a beta of 0.91.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings data on Monday, November 8th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.22). During the same quarter in the prior year, the business posted ($0.19) EPS. As a group, research analysts anticipate that Minerva Neurosciences will post -0.85 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in Minerva Neurosciences by 126.5% during the second quarter. Millennium Management LLC now owns 1,294,444 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 722,843 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Minerva Neurosciences by 128.2% during the second quarter. Renaissance Technologies LLC now owns 1,001,844 shares of the biopharmaceutical company’s stock valued at $2,324,000 after buying an additional 562,744 shares in the last quarter. Morgan Stanley lifted its stake in Minerva Neurosciences by 92.2% during the first quarter. Morgan Stanley now owns 929,176 shares of the biopharmaceutical company’s stock valued at $2,714,000 after buying an additional 445,850 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Minerva Neurosciences by 44.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,082,333 shares of the biopharmaceutical company’s stock valued at $1,883,000 after buying an additional 333,438 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Minerva Neurosciences by 187.5% during the second quarter. GSA Capital Partners LLP now owns 381,488 shares of the biopharmaceutical company’s stock valued at $885,000 after buying an additional 248,818 shares in the last quarter. Institutional investors own 64.52% of the company’s stock.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates to treat central nervous system diseases. It develops Roluperidone for the treatment of negative symptoms in patients with schizophrenia and MIN-301 for the treatment of Parkinson’s disease.

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