Minerva Neurosciences (NASDAQ:NERV) Releases Quarterly Earnings Results, Misses Estimates By $1.46 EPS

Minerva Neurosciences (NASDAQ:NERV) released its quarterly earnings results on Friday. The biopharmaceutical company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.14) by ($1.46), Zacks reports.

Minerva Neurosciences Price Performance

NASDAQ NERV traded up $0.12 during trading hours on Friday, reaching $2.42. The company’s stock had a trading volume of 238,027 shares, compared to its average volume of 175,064. Minerva Neurosciences has a 52 week low of $1.96 and a 52 week high of $8.80. The stock has a market cap of $115.56 million, a P/E ratio of -0.08 and a beta of 0.09. The firm has a fifty day simple moving average of $3.22 and a 200-day simple moving average of $4.83.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, September 21st. Zacks Research upgraded shares of Minerva Neurosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Wall Street Zen downgraded shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Jefferies Financial Group upgraded Minerva Neurosciences from a “hold” rating to a “mixed” rating and boosted their price target for the company from $7.50 to $10.00 in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.33.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company’s research has centered on conditions with significant unmet medical needs, including schizophrenia, depression and other psychiatric or neurological diseases.

Minerva’s lead product candidate has been roluperidone, an investigational therapy designed to address the negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.