Minerva Neurosciences (NASDAQ:NERV) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Minerva Neurosciences (NASDAQ:NERV) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

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. “

NERV has been the subject of a number of other reports. Chardan Capital reissued a buy rating and set a $17.00 price target on shares of Minerva Neurosciences in a research report on Tuesday, October 1st. William Blair began coverage on shares of Minerva Neurosciences in a research report on Wednesday, September 18th. They set an outperform rating and a $26.00 price target for the company. ValuEngine cut shares of Minerva Neurosciences from a strong-buy rating to a buy rating in a research report on Monday, September 30th. Finally, BidaskClub upgraded shares of Minerva Neurosciences from a strong sell rating to a sell rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $17.44.

NASDAQ:NERV opened at $4.17 on Friday. The company has a 50-day moving average price of $6.50 and a 200-day moving average price of $6.41. Minerva Neurosciences has a 12 month low of $4.03 and a 12 month high of $11.89. The stock has a market cap of $160.40 million, a price-to-earnings ratio of -3.23 and a beta of 1.51.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.10. On average, equities research analysts expect that Minerva Neurosciences will post -1.49 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NERV. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Minerva Neurosciences in the third quarter worth approximately $35,000. Public Employees Retirement System of Ohio bought a new stake in shares of Minerva Neurosciences in the second quarter worth approximately $54,000. Parametric Portfolio Associates LLC bought a new stake in shares of Minerva Neurosciences in the second quarter worth approximately $56,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Minerva Neurosciences in the second quarter worth approximately $62,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Minerva Neurosciences by 774.3% in the third quarter. Meeder Asset Management Inc. now owns 12,608 shares of the biopharmaceutical company’s stock worth $98,000 after acquiring an additional 11,166 shares during the period. Institutional investors and hedge funds own 74.27% 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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