Zacks Investment Research upgraded shares of Minerva Neurosciences, Inc (NASDAQ:NERV) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $7.75 target price on the biopharmaceutical company’s stock.
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. “
NERV has been the topic of a number of other research reports. JMP Securities restated an outperform rating and issued a $20.00 target price (up previously from $17.00) on shares of Minerva Neurosciences in a research note on Thursday, June 1st. ValuEngine upgraded Minerva Neurosciences from a sell rating to a hold rating in a research note on Tuesday, May 23rd. BidaskClub downgraded Minerva Neurosciences from a hold rating to a sell rating in a research note on Monday, July 24th. Finally, Citigroup Inc. began coverage on Minerva Neurosciences in a research note on Friday, September 1st. They issued a buy rating and a $11.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $13.94.
Minerva Neurosciences (NASDAQ NERV) opened at 7.25 on Wednesday. The company’s market cap is $308.19 million. The stock has a 50 day moving average price of $6.53 and a 200 day moving average price of $7.79. Minerva Neurosciences has a 1-year low of $5.55 and a 1-year high of $14.92.
Minerva Neurosciences (NASDAQ:NERV) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.07. During the same period in the previous year, the company posted ($0.18) earnings per share. On average, equities research analysts anticipate that Minerva Neurosciences will post ($0.90) EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Zacks Investment Research Upgrades Minerva Neurosciences, Inc (NERV) to Buy” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2017/09/17/zacks-investment-research-upgrades-minerva-neurosciences-inc-nerv-to-buy.html.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NERV. Citadel Advisors LLC acquired a new position in Minerva Neurosciences in the 1st quarter worth about $110,000. Nationwide Fund Advisors raised its holdings in Minerva Neurosciences by 14.2% in the 2nd quarter. Nationwide Fund Advisors now owns 13,005 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 1,616 shares during the period. Russell Investments Group Ltd. raised its holdings in Minerva Neurosciences by 54.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 15,794 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 5,579 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Minerva Neurosciences in the 2nd quarter worth about $145,000. Finally, State of Wisconsin Investment Board acquired a new position in Minerva Neurosciences in the 2nd quarter worth about $159,000. 69.29% of the stock is owned by institutional investors.
About Minerva Neurosciences
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 and indications include MIN-101 for the treatment of schizophrenia; MIN-202, for the treatment of insomnia disorder and major depressive disorder (MDD); MIN-117, for the treatment of MDD, and MIN-301 for the treatment of Parkinson’s disease.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Minerva Neurosciences Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerva Neurosciences Inc and related companies with MarketBeat.com's FREE daily email newsletter.