Minerva Neurosciences (NASDAQ:NERV) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Minerva Neurosciences, Inc (NASDAQ:NERV) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.44 and traded as low as $4.79. Minerva Neurosciences shares last traded at $4.84, with a volume of 106,449 shares trading hands.

Wall Street Analysts Forecast Growth

NERV has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of Minerva Neurosciences from a “hold” rating to a “mixed” rating and raised their target price for the company from $7.50 to $10.00 in a report on Friday, August 14th. Zacks Research downgraded shares of Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $10.33.

Minerva Neurosciences Trading Up 1.0%

The company’s 50 day moving average is $4.46 and its 200 day moving average is $5.44. The company has a market cap of $231.11 million, a PE ratio of -0.17 and a beta of -0.10.

Minerva Neurosciences (NASDAQ:NERV) last issued its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Analysts expect that Minerva Neurosciences, Inc will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC purchased a new position in Minerva Neurosciences during the 4th quarter worth $36,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Minerva Neurosciences in the 1st quarter worth $62,000. State Street Corp grew its position 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 buying an additional 7,500 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Minerva Neurosciences during the 1st quarter worth $107,000. Finally, Bank of America Corp DE increased its stake in shares of Minerva Neurosciences by 78,272.5% during the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 39,919 shares during the period. Institutional investors own 34.56% of the company’s stock.

Minerva Neurosciences Company Profile

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.