Minerva Neurosciences (NERV) Cut to Hold at BidaskClub

BidaskClub lowered shares of Minerva Neurosciences (NASDAQ:NERV) from a buy rating to a hold rating in a research note published on Friday, BidAskClub reports.

NERV has been the subject of a number of other research reports. Zacks Investment Research raised shares of Minerva Neurosciences from a hold rating to a buy rating and set a $8.25 target price for the company in a research note on Wednesday, January 16th. ValuEngine cut shares of Minerva Neurosciences from a strong-buy rating to a buy rating in a research note on Friday, March 15th.

NERV opened at $6.83 on Friday. Minerva Neurosciences has a fifty-two week low of $5.51 and a fifty-two week high of $12.95. The firm has a market capitalization of $269.70 million, a price-to-earnings ratio of -5.29 and a beta of 1.39.



Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). As a group, equities research analysts expect that Minerva Neurosciences will post -1.62 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Minerva Neurosciences by 16.9% during the first quarter. The Manufacturers Life Insurance Company now owns 12,318 shares of the biopharmaceutical company’s stock worth $97,000 after purchasing an additional 1,782 shares in the last quarter. Citigroup Inc. increased its stake in shares of Minerva Neurosciences by 23.1% during the first quarter. Citigroup Inc. now owns 9,753 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,829 shares in the last quarter. Swiss National Bank increased its stake in shares of Minerva Neurosciences by 4.9% during the first quarter. Swiss National Bank now owns 60,203 shares of the biopharmaceutical company’s stock worth $473,000 after purchasing an additional 2,800 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Minerva Neurosciences by 17.0% during the fourth quarter. Bank of America Corp DE now owns 20,412 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 2,963 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Minerva Neurosciences by 4.5% during the first quarter. Alps Advisors Inc. now owns 93,888 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 4,064 shares in the last quarter. 76.11% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: What are momentum indicators and what do they show?

Receive News & Ratings for Minerva Neurosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerva Neurosciences and related companies with MarketBeat.com's FREE daily email newsletter.