Minerva Neurosciences, Inc (NASDAQ:NERV)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.50 and last traded at $5.75, with a volume of 230722 shares trading hands. The stock had previously closed at $6.00.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Minerva Neurosciences from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Tuesday, September 5th. BidaskClub downgraded shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Citigroup Inc. initiated coverage on shares of Minerva Neurosciences in a research report on Friday, September 1st. They set a “buy” rating and a $11.00 target price for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $13.94.
The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35.
Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter. During the same quarter in the prior year, the firm earned ($0.24) EPS. analysts predict that Minerva Neurosciences, Inc will post -1.26 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in shares of Minerva Neurosciences by 35.9% in the second quarter. Rhumbline Advisers now owns 27,082 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 7,150 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Minerva Neurosciences in the second quarter worth $159,000. EcoR1 Capital LLC purchased a new position in shares of Minerva Neurosciences in the second quarter worth $1,981,000. Laurion Capital Management LP purchased a new position in shares of Minerva Neurosciences in the second quarter worth $326,000. Finally, Vanguard Group Inc. raised its holdings in shares of Minerva Neurosciences by 13.4% in the first quarter. Vanguard Group Inc. now owns 939,297 shares of the biopharmaceutical company’s stock worth $7,608,000 after buying an additional 110,876 shares during the last quarter. 69.75% of the stock is 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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