Zacks Investment Research cut shares of Minerva Neurosciences Inc. (NASDAQ:NERV) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of a portfolio of product candidates to treat central nervous system diseases. The Company’s pipeline will initially target the treatment of schizophrenia, major depressive disorder (MDD), insomnia, and Parkinson’s disease. Its product candidates include MIN-101, MIN-117, MIN-202 and MIN-301. Minerva Neurosciences, Inc. is based in Cambridge, MA, United States. “

Separately, Jefferies Group restated a buy rating and set a $17.00 target price on shares of Minerva Neurosciences in a research report on Wednesday, June 8th.

Shares of Minerva Neurosciences (NASDAQ:NERV) traded down 1.55% during midday trading on Wednesday, reaching $14.00. The company had a trading volume of 113,389 shares. The company has a 50 day moving average of $13.32 and a 200 day moving average of $9.89. Minerva Neurosciences has a one year low of $3.45 and a one year high of $15.84. The company’s market capitalization is $487.27 million.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.12. During the same period in the previous year, the company posted ($0.27) EPS. Analysts predict that Minerva Neurosciences will post ($0.90) EPS for the current fiscal year.

In related news, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $10.00, for a total value of $10,000,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 28.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors purchased a new position in Minerva Neurosciences during the second quarter worth approximately $106,000. Parametric Portfolio Associates LLC purchased a new position in Minerva Neurosciences during the second quarter worth approximately $107,000. Highbridge Capital Management LLC purchased a new position in Minerva Neurosciences during the second quarter worth approximately $138,000. Sterling Capital Management LLC boosted its position in Minerva Neurosciences by 36.1% in the second quarter. Sterling Capital Management LLC now owns 13,613 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 3,613 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Minerva Neurosciences during the second quarter worth approximately $156,000. 63.19% of the stock is currently owned by institutional investors and hedge funds.

Minerva Neurosciences Company Profile

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 include MIN-101 for the treatment of schizophrenia; MIN-117 for the treatment of major depressive disorder (MDD); MIN-202 (also known as JNJ-42847922) for the treatment of insomnia disorder and adjunctive MDD, and MIN-301 for the treatment of Parkinson’s disease.

5 Day Chart for NASDAQ:NERV

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