Minerva Neurosciences (NERV) Rating Lowered to Strong Sell at ValuEngine

Minerva Neurosciences (NASDAQ:NERV) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Sunday.

Separately, Zacks Investment Research downgraded shares of Minerva Neurosciences from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.94.

Shares of Minerva Neurosciences (NERV) traded down $0.30 during trading hours on Friday, reaching $6.05. 105,300 shares of the company’s stock traded hands, compared to its average volume of 217,801. Minerva Neurosciences has a one year low of $4.80 and a one year high of $12.60. The firm has a market capitalization of $234.14, a P/E ratio of -5.40 and a beta of 1.53.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter. During the same quarter in the prior year, the business earned ($0.24) EPS. equities analysts predict that Minerva Neurosciences will post -1.28 EPS for the current fiscal year.

In other news, CFO Geoff Race sold 5,829 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $5.79, for a total transaction of $33,749.91. Following the completion of the sale, the chief financial officer now owns 197,698 shares of the company’s stock, valued at $1,144,671.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 12,590 shares of company stock valued at $73,073 in the last three months. Corporate insiders own 21.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in NERV. FMR LLC grew its position in shares of Minerva Neurosciences by 13.7% during the second quarter. FMR LLC now owns 5,660,794 shares of the biopharmaceutical company’s stock worth $50,098,000 after buying an additional 680,000 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Minerva Neurosciences during the third quarter worth approximately $2,835,000. Franklin Resources Inc. grew its position in shares of Minerva Neurosciences by 39.0% during the second quarter. Franklin Resources Inc. now owns 1,158,100 shares of the biopharmaceutical company’s stock worth $10,249,000 after buying an additional 325,000 shares in the last quarter. Citigroup Inc. grew its position in shares of Minerva Neurosciences by 8,842.2% during the second quarter. Citigroup Inc. now owns 253,065 shares of the biopharmaceutical company’s stock worth $2,240,000 after buying an additional 250,235 shares in the last quarter. Finally, EcoR1 Capital LLC acquired a new stake in shares of Minerva Neurosciences during the second quarter worth approximately $1,981,000. 73.68% of the stock is owned by institutional investors and hedge funds.

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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 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.

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