Zacks Investment Research upgraded shares of Minerva Neurosciences Inc (NASDAQ:NERV) from a sell rating to a hold rating in a research report report published on Tuesday.

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 LLC initiated coverage on Minerva Neurosciences in a report on Monday, March 6th. They issued a buy rating and a $17.00 price target for the company.

Shares of Minerva Neurosciences (NASDAQ:NERV) opened at 8.25 on Tuesday. The company has a 50-day moving average of $7.35 and a 200 day moving average of $10.07. Minerva Neurosciences has a one year low of $3.45 and a one year high of $15.84. The firm’s market cap is $302.81 million.

Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.30). On average, equities research analysts expect that Minerva Neurosciences will post ($1.50) EPS for the current fiscal year.

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In related news, Director Marc D. Beer purchased 50,000 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was purchased at an average price of $8.12 per share, for a total transaction of $406,000.00. Following the acquisition, the director now directly owns 25,000 shares in the company, valued at $203,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.10% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in NERV. Perceptive Advisors LLC acquired a new position in shares of Minerva Neurosciences during the fourth quarter worth about $9,523,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Minerva Neurosciences during the first quarter worth about $3,457,000. Marshall Wace North America L.P. acquired a new position in shares of Minerva Neurosciences during the first quarter worth about $3,457,000. Nexthera Capital LP raised its position in shares of Minerva Neurosciences by 53.6% in the first quarter. Nexthera Capital LP now owns 757,200 shares of the biopharmaceutical company’s stock worth $6,133,000 after buying an additional 264,242 shares during the last quarter. Finally, Baker BROS. Advisors LP acquired a new position in shares of Minerva Neurosciences during the third quarter worth about $3,653,000. 69.81% of the stock is currently owned by institutional investors.

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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