Minerva Neurosciences (NERV) Stock Rating Upgraded by Zacks Investment Research

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Minerva Neurosciences (NASDAQ:NERV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $8.25 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.70% from the company’s previous close.

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. “

Several other equities research analysts have also recently issued reports on the company. BidaskClub cut Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. ValuEngine cut Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 18th.

NERV stock traded down $0.02 during midday trading on Thursday, hitting $7.59. 70,831 shares of the company’s stock were exchanged, compared to its average volume of 131,188. The stock has a market cap of $295.81 million, a price-to-earnings ratio of -7.03 and a beta of 1.60. Minerva Neurosciences has a 1-year low of $5.00 and a 1-year high of $12.95.

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

In other news, Director William F. Doyle purchased 6,000 shares of the stock in a transaction dated Tuesday, December 11th. The stock was acquired at an average cost of $7.97 per share, for a total transaction of $47,820.00. Following the completion of the transaction, the director now directly owns 16,611 shares in the company, valued at approximately $132,389.67. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Geoff Race sold 5,999 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,524,592.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 10,000 shares of company stock valued at $77,220 and have sold 16,007 shares valued at $120,971. Company insiders own 9.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new position in Minerva Neurosciences in the second quarter valued at $135,000. Falcon Point Capital LLC boosted its holdings in Minerva Neurosciences by 28.6% in the third quarter. Falcon Point Capital LLC now owns 27,933 shares of the biopharmaceutical company’s stock valued at $351,000 after purchasing an additional 6,209 shares during the period. Acadian Asset Management LLC boosted its holdings in Minerva Neurosciences by 33.6% in the third quarter. Acadian Asset Management LLC now owns 42,822 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 10,762 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Minerva Neurosciences by 38.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 65,567 shares of the biopharmaceutical company’s stock valued at $541,000 after purchasing an additional 18,267 shares during the period. Finally, Alpine Woods Capital Investors LLC boosted its holdings in Minerva Neurosciences by 22.7% in the third quarter. Alpine Woods Capital Investors LLC now owns 61,329 shares of the biopharmaceutical company’s stock valued at $770,000 after purchasing an additional 11,329 shares during the period. Institutional investors and hedge funds own 75.09% of the company’s stock.

About Minerva Neurosciences

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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