Citizens Jmp Begins Coverage on Minerva Neurosciences (NASDAQ:NERV)

Citizens Jmp assumed coverage on shares of Minerva Neurosciences (NASDAQ:NERV) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set a “market outperform” rating and a $14.00 price target on the biopharmaceutical company’s stock. Citizens Jmp’s target price would suggest a potential upside of 122.58% from the stock’s previous close.

Several other equities analysts have also issued reports on NERV. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Wall Street Zen upgraded shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.50.

Minerva Neurosciences Trading Up 1.8%

NASDAQ NERV opened at $6.29 on Wednesday. The firm’s fifty day simple moving average is $6.40 and its two-hundred day simple moving average is $4.74. Minerva Neurosciences has a 12-month low of $1.30 and a 12-month high of $12.46. The firm has a market capitalization of $275.75 million, a P/E ratio of -0.23 and a beta of -0.19.

Institutional Investors Weigh In On Minerva Neurosciences

Several institutional investors and hedge funds have recently made changes to their positions in NERV. Janus Henderson Group PLC acquired a new stake in shares of Minerva Neurosciences during the fourth quarter worth $36,000. Apella Capital LLC lifted its stake in shares of Minerva Neurosciences by 87.8% during the third quarter. Apella Capital LLC now owns 39,314 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 18,375 shares during the period. State Street Corp lifted its position in Minerva Neurosciences by 45.4% during the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 7,500 shares during the period. Millennium Management LLC acquired a new position in Minerva Neurosciences during the fourth quarter valued at $554,000. Finally, Renaissance Technologies LLC lifted its position in Minerva Neurosciences by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock valued at $600,000 after purchasing an additional 32,700 shares during the period. 34.56% of the stock is currently owned by institutional investors and hedge funds.

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.