Minerva Neurosciences (NASDAQ:NERV) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Minerva Neurosciences (NASDAQ:NERV) released its quarterly earnings data on Friday. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05, FiscalAI reports.

Minerva Neurosciences Stock Performance

NERV traded down $0.17 during midday trading on Friday, hitting $4.27. The company had a trading volume of 171,007 shares, compared to its average volume of 160,870. Minerva Neurosciences has a twelve month low of $1.76 and a twelve month high of $12.46. The company has a market capitalization of $198.94 million, a PE ratio of -0.15 and a beta of -0.10. The firm’s 50-day simple moving average is $4.51 and its 200-day simple moving average is $5.42.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Logos Global Management LP bought a new stake in shares of Minerva Neurosciences during the fourth quarter worth $13,310,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Minerva Neurosciences during the fourth quarter worth approximately $11,409,000. Vivo Capital LLC acquired a new position in Minerva Neurosciences in the fourth quarter valued at approximately $17,377,000. Federated Hermes Inc. lifted its holdings in Minerva Neurosciences by 297.5% in the fourth quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock valued at $21,595,000 after buying an additional 4,020,500 shares during the period. Finally, Millennium Management LLC bought a new position in Minerva Neurosciences in the fourth quarter valued at approximately $554,000. Institutional investors and hedge funds own 34.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on NERV. Wall Street Zen lowered Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Finally, Citizens Jmp began coverage on shares of Minerva Neurosciences in a research note on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Minerva Neurosciences has an average rating of “Hold” and a consensus price target of $10.50.

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.