Minerva Neurosciences (NERV) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of Minerva Neurosciences (NASDAQ:NERV) from a buy rating to a hold rating in a report published on Saturday, ValuEngine reports.

Other research analysts have also issued reports about the company. BidaskClub lowered Minerva Neurosciences from a buy rating to a hold rating in a research report on Thursday, January 17th. Zacks Investment Research raised Minerva Neurosciences from a hold rating to a buy rating and set a $7.25 price target on the stock in a research report on Tuesday, February 5th.

NASDAQ:NERV opened at $7.31 on Friday. The firm has a market cap of $277.47 million, a P/E ratio of -5.67 and a beta of 1.46. Minerva Neurosciences has a 1-year low of $5.80 and a 1-year high of $12.95.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Equities analysts predict that Minerva Neurosciences will post -1.4 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. purchased a new position in Minerva Neurosciences in the fourth quarter valued at about $77,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Minerva Neurosciences by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,515 shares of the biopharmaceutical company’s stock worth $78,000 after acquiring an additional 8,993 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Minerva Neurosciences by 89.3% during the 4th quarter. Meeder Asset Management Inc. now owns 12,867 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 6,070 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Minerva Neurosciences by 33.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,000 shares of the biopharmaceutical company’s stock worth $135,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Minerva Neurosciences by 17.0% during the 4th quarter. Bank of America Corp DE now owns 20,412 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 2,963 shares in the last quarter. Hedge funds and other institutional investors own 76.16% 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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