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

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 analysts have also recently issued reports on NERV. BidaskClub cut Minerva Neurosciences from a hold rating to a sell rating in a research report on Monday, July 24th. Citigroup Inc. started coverage on Minerva Neurosciences in a research report on Friday, September 1st. They set a buy rating and a $11.00 target price on the stock. Two equities 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 company has an average rating of Hold and an average target price of $13.94.

Minerva Neurosciences (NERV) opened at 7.55 on Thursday. The firm’s 50-day moving average price is $6.85 and its 200-day moving average price is $7.67. Minerva Neurosciences has a 52 week low of $5.55 and a 52 week high of $14.59. The stock’s market cap is $320.94 million.

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

TRADEMARK VIOLATION NOTICE: This story was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/10/09/minerva-neurosciences-inc-nerv-cut-to-hold-at-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC boosted its position in Minerva Neurosciences by 1.4% during the 2nd quarter. ProShare Advisors LLC now owns 21,063 shares of the biopharmaceutical company’s stock valued at $186,000 after acquiring an additional 297 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Minerva Neurosciences by 1.0% during the 1st quarter. ClariVest Asset Management LLC now owns 29,200 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 300 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Minerva Neurosciences by 1.3% during the 1st quarter. TD Asset Management Inc. now owns 27,100 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 357 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Minerva Neurosciences by 1.6% during 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 purchasing an additional 1,286 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in shares of Minerva Neurosciences by 14.2% during the 2nd quarter. Nationwide Fund Advisors now owns 13,005 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 1,616 shares during the last quarter. 69.29% 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 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.

Get a free copy of the Zacks research report on Minerva Neurosciences (NERV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Minerva Neurosciences Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerva Neurosciences Inc and related stocks with our FREE daily email newsletter.