Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) saw unusually-high trading volume on Tuesday . Approximately 986,321 shares were traded during mid-day trading, an increase of 251% from the previous session’s volume of 280,610 shares.The stock last traded at $7.40 and had previously closed at $6.85.
NERV has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. ValuEngine upgraded shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. JMP Securities restated an “outperform” rating and issued a $20.00 target price (up previously from $17.00) on shares of Minerva Neurosciences in a report on Thursday, June 1st. BidaskClub lowered shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, Citigroup Inc. initiated coverage on shares of Minerva Neurosciences in a report on Friday, September 1st. They issued a “buy” rating and a $11.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Minerva Neurosciences currently has an average rating of “Hold” and a consensus price target of $13.69.
The stock’s 50-day moving average is $6.53 and its 200-day moving average is $7.82. The stock’s market cap is $314.57 million.
Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.07. During the same quarter in the prior year, the business posted ($0.18) earnings per share. Equities research analysts expect that Minerva Neurosciences, Inc will post ($0.90) EPS for the current year.
Institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors grew its holdings in Minerva Neurosciences by 14.2% in the 2nd quarter. Nationwide Fund Advisors now owns 13,005 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 1,616 shares during the last quarter. Citadel Advisors LLC bought a new stake in Minerva Neurosciences in the 1st quarter worth $110,000. Russell Investments Group Ltd. grew its holdings in Minerva Neurosciences by 54.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 15,794 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 5,579 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Minerva Neurosciences in the 2nd quarter worth $145,000. Finally, State of Wisconsin Investment Board bought a new stake in Minerva Neurosciences in the 2nd quarter worth $159,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.
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About Minerva Neurosciences
Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio and indications include MIN-101 for the treatment of schizophrenia; MIN-202, for the treatment of insomnia disorder and major depressive disorder (MDD); MIN-117, for the treatment of MDD, and MIN-301 for the treatment of Parkinson’s disease.
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