Analysts forecast that Minerva Neurosciences Inc (NASDAQ:NERV) will post earnings of ($0.37) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Minerva Neurosciences’ earnings. Minerva Neurosciences reported earnings per share of ($0.28) during the same quarter last year, which suggests a negative year over year growth rate of 32.1%. The business is scheduled to report its next earnings report on Monday, November 5th.
On average, analysts expect that Minerva Neurosciences will report full year earnings of ($1.39) per share for the current year. For the next fiscal year, analysts anticipate that the business will report earnings of ($1.56) per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Minerva Neurosciences.
Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06.
Several research firms have issued reports on NERV. BidaskClub upgraded Minerva Neurosciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 29th. ValuEngine upgraded Minerva Neurosciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 23rd. Finally, Citigroup boosted their price target on Minerva Neurosciences to $19.00 in a research note on Friday, August 3rd.
In other news, COO Joseph H. Reilly sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the chief operating officer now owns 39,177 shares in the company, valued at $391,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William F. Doyle purchased 4,000 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were acquired at an average price of $9.88 per share, for a total transaction of $39,520.00. Following the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $39,520. The disclosure for this purchase can be found here. Insiders have bought 8,000 shares of company stock worth $81,520 in the last 90 days. Insiders own 9.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Northern Trust Corp grew its stake in shares of Minerva Neurosciences by 18.7% during the second quarter. Northern Trust Corp now owns 358,803 shares of the biopharmaceutical company’s stock worth $2,960,000 after acquiring an additional 56,592 shares during the last quarter. Millennium Management LLC grew its stake in shares of Minerva Neurosciences by 2.8% during the second quarter. Millennium Management LLC now owns 919,471 shares of the biopharmaceutical company’s stock worth $7,586,000 after acquiring an additional 25,092 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Minerva Neurosciences during the second quarter worth about $135,000. Renaissance Technologies LLC boosted its position in Minerva Neurosciences by 241.1% in the second quarter. Renaissance Technologies LLC now owns 176,000 shares of the biopharmaceutical company’s stock valued at $1,452,000 after buying an additional 124,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Minerva Neurosciences by 40.4% in the second quarter. Dimensional Fund Advisors LP now owns 391,041 shares of the biopharmaceutical company’s stock valued at $3,226,000 after buying an additional 112,461 shares during the last quarter. Institutional investors and hedge funds own 71.96% of the company’s stock.
NERV traded down $0.30 on Friday, hitting $11.90. The company had a trading volume of 10,253 shares, compared to its average volume of 202,862. Minerva Neurosciences has a 12-month low of $4.80 and a 12-month high of $12.35. The firm has a market capitalization of $430.39 million, a PE ratio of -11.30 and a beta of 1.63.
About Minerva Neurosciences
Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.
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