Minerva Neurosciences (NASDAQ:NERV) Announces Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Minerva Neurosciences (NASDAQ:NERV) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.12), Zacks reports.

Minerva Neurosciences Stock Down 2.7 %

Shares of NERV stock traded down $0.08 during mid-day trading on Wednesday, hitting $2.86. 11,613 shares of the company’s stock were exchanged, compared to its average volume of 69,688. Minerva Neurosciences has a fifty-two week low of $2.26 and a fifty-two week high of $13.49. The stock has a 50-day simple moving average of $3.15 and a two-hundred day simple moving average of $3.92. The stock has a market cap of $20.00 million, a price-to-earnings ratio of -0.64 and a beta of 0.15.

Analysts Set New Price Targets

Several research firms have weighed in on NERV. StockNews.com began coverage on Minerva Neurosciences in a research report on Tuesday. They set a “sell” rating for the company. HC Wainwright dropped their price target on Minerva Neurosciences from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday.

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.