Minerva Neurosciences (NASDAQ:NERV) Coverage Initiated at StockNews.com

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

Separately, HC Wainwright reissued a “neutral” rating and set a $5.00 price target on shares of Minerva Neurosciences in a research report on Wednesday.

Minerva Neurosciences Trading Down 1.8 %

NERV stock opened at $1.67 on Friday. Minerva Neurosciences has a twelve month low of $1.64 and a twelve month high of $3.69. The company has a market capitalization of $11.68 million, a P/E ratio of -3.80 and a beta of 0.12. The firm has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $2.37.

Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.49. On average, research analysts predict that Minerva Neurosciences will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Citadel Advisors LLC boosted its holdings in Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,764 shares of the biopharmaceutical company’s stock after purchasing 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 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 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.