Minerva Neurosciences, Inc (NASDAQ:NERV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $6.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 4.65% from the stock’s current price.

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. “

Several other research firms have also recently commented on NERV. Citigroup Inc. initiated coverage on Minerva Neurosciences in a report on Friday. They issued a “buy” rating and a $11.00 price target for the company. ValuEngine raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. JMP Securities reaffirmed an “outperform” rating and issued a $20.00 price target (up previously from $17.00) on shares of Minerva Neurosciences in a report on Thursday, June 1st. Finally, BidaskClub cut Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.69.

Minerva Neurosciences (NASDAQ:NERV) opened at 6.45 on Tuesday. The stock has a 50 day moving average price of $6.77 and a 200 day moving average price of $7.94. Minerva Neurosciences has a 12 month low of $5.55 and a 12 month high of $14.92. The firm’s market cap is $274.18 million.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.07. During the same period last year, the firm posted ($0.18) EPS. On average, equities analysts expect that Minerva Neurosciences will post ($1.19) earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of NERV. Bank of New York Mellon Corp raised its holdings in Minerva Neurosciences by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 80,201 shares of the biopharmaceutical company’s stock valued at $649,000 after acquiring an additional 1,286 shares in the last quarter. TD Asset Management Inc. raised its holdings in Minerva Neurosciences by 1.3% in the 1st quarter. TD Asset Management Inc. now owns 27,100 shares of the biopharmaceutical company’s stock valued at $220,000 after acquiring an additional 357 shares in the last quarter. ClariVest Asset Management LLC raised its holdings in Minerva Neurosciences by 1.0% in the 1st quarter. ClariVest Asset Management LLC now owns 29,200 shares of the biopharmaceutical company’s stock valued at $236,000 after acquiring an additional 300 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Minerva Neurosciences in the 1st quarter valued at approximately $1,660,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Minerva Neurosciences in the 1st quarter valued at approximately $3,457,000. 69.29% of the stock is owned by hedge funds and other 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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