Minerva Neurosciences, Inc (NASDAQ:NERV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

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. “

A number of other brokerages also recently commented on NERV. Citigroup Inc. initiated coverage on Minerva Neurosciences in a report on Friday, September 1st. They set a “buy” rating and a $11.00 target price for the company. ValuEngine downgraded Minerva Neurosciences from a “sell” rating to a “strong sell” rating in a report on Monday, May 29th. BidaskClub downgraded Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, JMP Securities reiterated an “outperform” rating and issued a $20.00 price objective (up previously from $17.00) on shares of Minerva Neurosciences in a report on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $13.94.

Shares of Minerva Neurosciences (NASDAQ NERV) opened at 7.25 on Friday. The firm’s market cap is $308.19 million. Minerva Neurosciences has a 12 month low of $5.55 and a 12 month high of $14.92. The stock’s 50 day moving average is $6.53 and its 200 day moving average is $7.79.

Minerva Neurosciences (NASDAQ:NERV) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.07. During the same period in the prior year, the company posted ($0.18) EPS. Equities research analysts expect that Minerva Neurosciences will post ($0.90) EPS for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of NERV. Citadel Advisors LLC bought a new position in Minerva Neurosciences in the first quarter worth $110,000. Nationwide Fund Advisors raised its holdings in Minerva Neurosciences by 14.2% in the second quarter. Nationwide Fund Advisors now owns 13,005 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 1,616 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Minerva Neurosciences by 54.6% in the second quarter. Russell Investments Group Ltd. now owns 15,794 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 5,579 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Minerva Neurosciences in the second quarter worth $145,000. Finally, State of Wisconsin Investment Board bought a new position in Minerva Neurosciences in the second quarter worth $159,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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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