Minerva Neurosciences (NASDAQ:NERV) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Minerva Neurosciences (NASDAQ:NERV) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently commented on NERV. Zacks Research upgraded Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Monday, September 21st. Finally, Jefferies Financial Group upgraded Minerva Neurosciences from a “hold” rating to a “mixed” rating and increased their target price for the company from $7.50 to $10.00 in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.33.

Minerva Neurosciences Stock Performance

Shares of Minerva Neurosciences stock opened at $2.32 on Friday. Minerva Neurosciences has a 52-week low of $1.96 and a 52-week high of $8.80. The stock has a market capitalization of $110.78 million, a price-to-earnings ratio of -0.08 and a beta of -0.10. The company has a fifty day moving average of $3.49 and a 200-day moving average of $4.88.

Minerva Neurosciences (NASDAQ:NERV) last issued its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. On average, equities research analysts forecast that Minerva Neurosciences will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Minerva Neurosciences

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Minerva Neurosciences during the second quarter valued at about $419,000. Seven Fleet Capital Management LP purchased a new stake in shares of Minerva Neurosciences during the first quarter worth about $6,855,000. DV Trading LLC bought a new stake in shares of Minerva Neurosciences in the first quarter worth about $5,358,000. Bank of America Corp DE grew its stake in shares of Minerva Neurosciences by 78,272.5% in the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 39,919 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Minerva Neurosciences by 47,614.0% in the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock worth $25,873,000 after purchasing an additional 4,285,259 shares during the last quarter. Institutional investors own 34.56% of the company’s stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company’s research has centered on conditions with significant unmet medical needs, including schizophrenia, depression and other psychiatric or neurological diseases.

Minerva’s lead product candidate has been roluperidone, an investigational therapy designed to address the negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.