StockNews.com Begins Coverage on Minerva Neurosciences (NASDAQ:NERV)

StockNews.com assumed coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a research note issued on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “neutral” rating and issued a $5.00 price target on shares of Minerva Neurosciences in a research report on Wednesday, February 26th.

Minerva Neurosciences Trading Up 1.3 %

NERV opened at $1.56 on Tuesday. The company’s 50 day moving average is $2.00 and its 200 day moving average is $2.29. The company has a market cap of $10.91 million, a price-to-earnings ratio of -3.55 and a beta of 0.10. Minerva Neurosciences has a 12-month low of $1.42 and a 12-month high of $3.69.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.49. As a group, analysts predict that Minerva Neurosciences will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Citadel Advisors LLC lifted its position in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,764 shares of the biopharmaceutical company’s stock after buying an additional 8,525 shares during the quarter. Citadel Advisors LLC owned approximately 0.37% of Minerva Neurosciences worth $57,000 at the end of the most recent quarter. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.