Minerva Neurosciences (NERV) Upgraded at BidaskClub

Minerva Neurosciences (NASDAQ:NERV) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities research analysts also recently weighed in on NERV. Zacks Investment Research upgraded Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Friday, November 9th. ValuEngine downgraded Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 18th.

Shares of NASDAQ NERV opened at $7.61 on Friday. Minerva Neurosciences has a 1-year low of $5.00 and a 1-year high of $12.95. The stock has a market cap of $264.71 million, a price-to-earnings ratio of -7.05 and a beta of 1.60.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.07. As a group, equities analysts expect that Minerva Neurosciences will post -1.28 earnings per share for the current year.

In other news, CFO Geoff Race sold 5,999 shares of the stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $7.46, for a total value of $44,752.54. Following the transaction, the chief financial officer now owns 204,369 shares in the company, valued at approximately $1,524,592.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William F. Doyle acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, December 11th. The stock was acquired at an average price of $7.97 per share, for a total transaction of $47,820.00. Following the acquisition, the director now owns 16,611 shares in the company, valued at approximately $132,389.67. The disclosure for this purchase can be found here. In the last quarter, insiders bought 10,000 shares of company stock worth $77,220 and sold 16,007 shares worth $120,971. Corporate insiders own 9.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NERV. Vanguard Group Inc increased its stake in Minerva Neurosciences by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 1,537,590 shares of the biopharmaceutical company’s stock valued at $19,297,000 after purchasing an additional 16,956 shares in the last quarter. Marshall Wace North America L.P. increased its position in Minerva Neurosciences by 33.2% during the third quarter. Marshall Wace North America L.P. now owns 555,675 shares of the biopharmaceutical company’s stock worth $6,974,000 after buying an additional 138,475 shares in the last quarter. Vanguard Group Inc. increased its position in Minerva Neurosciences by 1.1% during the third quarter. Vanguard Group Inc. now owns 1,537,590 shares of the biopharmaceutical company’s stock worth $19,297,000 after buying an additional 16,956 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Minerva Neurosciences by 23.4% during the third quarter. TIAA CREF Investment Management LLC now owns 209,195 shares of the biopharmaceutical company’s stock worth $2,625,000 after buying an additional 39,721 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its position in Minerva Neurosciences by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 25,297 shares of the biopharmaceutical company’s stock worth $317,000 after buying an additional 8,993 shares in the last quarter. Institutional investors and hedge funds own 75.09% of the company’s stock.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.

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