Minerva Neurosciences (NASDAQ:NERV) Stock Crosses Above 50 Day Moving Average of $4.98

Minerva Neurosciences, Inc. (NASDAQ:NERVGet Rating) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.98 and traded as high as $11.45. Minerva Neurosciences shares last traded at $10.33, with a volume of 1,444,156 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NERV. HC Wainwright lowered their target price on Minerva Neurosciences from $40.00 to $24.00 in a research report on Tuesday, August 23rd. StockNews.com started coverage on Minerva Neurosciences in a report on Saturday. They set a “sell” rating on the stock.

Minerva Neurosciences Stock Down 2.1 %

The stock has a fifty day simple moving average of $4.98 and a 200 day simple moving average of $4.74. The firm has a market capitalization of $55.16 million, a P/E ratio of -1.12 and a beta of -0.21.

Minerva Neurosciences (NASDAQ:NERVGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.63) EPS for the quarter, beating analysts’ consensus estimates of ($1.84) by $0.21. Research analysts anticipate that Minerva Neurosciences, Inc. will post -5.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Acadian Asset Management LLC lifted its position in Minerva Neurosciences, Inc. (NASDAQ:NERVGet Rating) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,768,685 shares of the biopharmaceutical company’s stock after purchasing an additional 58,202 shares during the quarter. Acadian Asset Management LLC owned about 4.14% of Minerva Neurosciences worth $1,414,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 51.31% of the company’s stock.

About Minerva Neurosciences

(Get Rating)

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone for the treatment of schizophrenia; and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.

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