Minerva Neurosciences (NASDAQ:NERV) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.39 and traded as low as $5.13. Minerva Neurosciences shares last traded at $5.15, with a volume of 124,223 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NERV shares. Wall Street Zen cut Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Wednesday, June 24th. Citizens Jmp initiated coverage on Minerva Neurosciences in a research note on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target for the company. Finally, HC Wainwright restated a “neutral” rating and set a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

Minerva Neurosciences Stock Performance

The stock has a market cap of $237.61 million, a price-to-earnings ratio of -0.17 and a beta of -0.16. The firm’s 50 day moving average is $5.22 and its two-hundred day moving average is $5.40.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). As a group, equities analysts expect that Minerva Neurosciences, Inc will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Minerva Neurosciences

Hedge funds have recently made changes to their positions in the business. Apella Capital LLC grew its holdings in Minerva Neurosciences by 7.8% in the 4th quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 3,066 shares during the period. State Street Corp lifted its holdings in shares of Minerva Neurosciences by 45.4% during the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 7,500 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Minerva Neurosciences in the fourth quarter worth approximately $36,000. OMERS ADMINISTRATION Corp purchased a new stake in Minerva Neurosciences in the first quarter valued at approximately $62,000. Finally, Cannon Global Investment Management LLC purchased a new stake in Minerva Neurosciences in the first quarter valued at approximately $107,000. Institutional investors and hedge funds own 34.56% of the company’s stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.