Investment analysts at William Blair initiated coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating on the biopharmaceutical company’s stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Minerva Neurosciences from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective for the company in a report on Friday, August 9th. ValuEngine upgraded shares of Minerva Neurosciences from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 11th. BidaskClub upgraded shares of Minerva Neurosciences from a “strong sell” rating to a “sell” rating in a report on Friday, August 23rd. Finally, HC Wainwright started coverage on shares of Minerva Neurosciences in a report on Friday, May 31st. They issued a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. Minerva Neurosciences has a consensus rating of “Buy” and a consensus price target of $14.88.
NERV stock opened at $8.66 on Wednesday. The stock has a market capitalization of $340.34 million, a P/E ratio of -6.71 and a beta of 1.54. Minerva Neurosciences has a 12 month low of $4.07 and a 12 month high of $12.95. The firm has a 50-day moving average price of $7.13 and a 200-day moving average price of $6.77.
In other Minerva Neurosciences news, Director David Kupfer acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average price of $5.55 per share, for a total transaction of $55,500.00. Following the acquisition, the director now directly owns 219,188 shares in the company, valued at $1,216,493.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Venture Associates L. Index III sold 197,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $6.01, for a total transaction of $1,183,970.00. The disclosure for this sale can be found here. 12.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in Minerva Neurosciences by 63,940.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,404 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 6,394 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Minerva Neurosciences during the 2nd quarter worth approximately $54,000. Parametric Portfolio Associates LLC bought a new position in Minerva Neurosciences during the 2nd quarter worth approximately $56,000. Quantitative Systematic Strategies LLC bought a new position in Minerva Neurosciences during the 2nd quarter worth approximately $62,000. Finally, Jane Street Group LLC bought a new position in Minerva Neurosciences during the 2nd quarter worth approximately $88,000. Institutional investors and hedge funds own 74.24% 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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