Minerva Neurosciences Inc. (NASDAQ:NERV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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, Jefferies Group reissued a “buy” rating and set a $17.00 price objective on shares of Minerva Neurosciences in a research note on Wednesday, June 8th.
Minerva Neurosciences (NASDAQ:NERV) opened at 14.16 on Wednesday. The stock’s market cap is $492.84 million. Minerva Neurosciences has a 12 month low of $3.45 and a 12 month high of $15.84. The firm has a 50-day moving average of $13.28 and a 200 day moving average of $9.86.
Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.12. During the same quarter in the previous year, the company posted ($0.27) EPS. Analysts anticipate that Minerva Neurosciences will post ($0.90) EPS for the current year.
In related news, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $10.00, for a total transaction of $10,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 28.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors acquired a new stake in Minerva Neurosciences during the second quarter valued at about $106,000. Parametric Portfolio Associates LLC acquired a new stake in Minerva Neurosciences during the second quarter valued at about $107,000. Highbridge Capital Management LLC acquired a new stake in Minerva Neurosciences during the second quarter valued at about $138,000. Sterling Capital Management LLC raised its stake in Minerva Neurosciences by 36.1% in the second quarter. Sterling Capital Management LLC now owns 13,613 shares of the biopharmaceutical company’s stock valued at $139,000 after buying an additional 3,613 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Minerva Neurosciences during the second quarter valued at about $156,000. 63.19% of the stock is owned by institutional investors.
Minerva Neurosciences Company Profile
Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio include MIN-101 for the treatment of schizophrenia; MIN-117 for the treatment of major depressive disorder (MDD); MIN-202 (also known as JNJ-42847922) for the treatment of insomnia disorder and adjunctive MDD, and MIN-301 for the treatment of Parkinson’s disease.
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