HC Wainwright Cuts Minerva Neurosciences (NASDAQ:NERV) Price Target to $5.00

Minerva Neurosciences (NASDAQ:NERV) had its target price dropped by equities research analysts at HC Wainwright from $7.00 to $5.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 67.22% from the stock’s previous close.

Separately, StockNews.com started coverage on Minerva Neurosciences in a research report on Tuesday. They issued a “sell” rating on the stock.

Minerva Neurosciences Price Performance

Shares of NERV traded up $0.05 on Wednesday, reaching $2.99. The company’s stock had a trading volume of 10,985 shares, compared to its average volume of 69,683. Minerva Neurosciences has a 12-month low of $2.26 and a 12-month high of $13.49. The stock’s 50 day simple moving average is $3.15 and its two-hundred day simple moving average is $3.92. The stock has a market capitalization of $20.91 million, a P/E ratio of -0.64 and a beta of 0.15.

Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.12). Analysts expect that Minerva Neurosciences will post -1.89 earnings per share for the current year.

About Minerva Neurosciences

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 (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.