The Vanguard Group, Inc. recently announced the acquisition of new stake in Minerva Neurosciences Inc. (NASDAQ:NERV). The institutional investor has increased its shareholding in the Healthcare company by 0.45% to 1.63 million shares with purchase of 7278.0 shares. This fresh investment now brings its stake to 4.16% valued currently at $5.88 million.
With over 1.1 million Minerva Neurosciences Inc. (NERV) shares trading Thursday and a closing price of $3.62 on the day, the dollar volume was approximately $3.98 million. The shares have shown a positive weekly performance of 1.97% and its price on 07/30/20 gained nearly 2.84%. Currently, there are 39.18M common shares owned by the public and among those 37.71M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for NERV have a consensus price objective of $6.60. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $2.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Minerva Neurosciences Inc. stock is 2.00 for the next 12 months. But an upside of 63.8% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.
Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 45,000 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 23,971 shares.
The top 3 mutual fund holders in Minerva Neurosciences Inc. are Federated Hermes Kaufmann Fund, Federated Hermes Kaufmann Small C, and Fidelity Select Port. – Biotechno. Federated Hermes Kaufmann Fund owns 5.2 million shares of the company’s stock, all valued at over $18.77 million. The company sold -2.29 million shares recently to bring their total holdings to about 13.26% of the shares outstanding. Federated Hermes Kaufmann Small C bought 2.36 million shares to see its total holdings expand to 4.27 million shares valued at over $15.42 million and representing 10.89% of the shares outstanding. Fidelity Select Port. – Biotechno sold -0.46 million shares to bring its total holdings to over 1.49 million shares at a value of $5.37 million. Fidelity Select Port. – Biotechno now owns shares totaling to 3.79% of the shares outstanding.
Shares of Minerva Neurosciences Inc. (NASDAQ: NERV) opened at $3.51, down -$0.01 from a prior closing price of $3.52. However, the script later closed the day at $3.62, up 2.84%. The company’s stock has a 5-day price change of 1.97% and -59.64% over the past three months. NERV shares are trading -49.09% year to date (YTD), with the 12-month market performance down to -45.48% lower. It has a 12-month low price of $1.81 and touched a high of $15.22 over the same period. Currently, 1.1 million shares have been traded, compared to an average intraday trading volume of 3.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.17%, -28.48%, and -44.75% respectively.
Institutional ownership of Minerva Neurosciences Inc. (NASDAQ: NERV) shares accounts for 82.00% of the company’s 39.18M shares outstanding. Mutual fund holders own 29.79%, while other institutional holders and individual stakeholders account for 46.44% and 28.28% respectively.
It has a market capitalization of $141.54M and a beta (3y monthly) value of 1.55. The earnings-per-share (ttm) stands at -$1.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.64% over the week and 5.58% over the month.
Analysts forecast that Minerva Neurosciences Inc. (NERV) will achieve an EPS of -$0.29 for the current quarter, -$0.27 for the next quarter and -$0.94 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.31 while analysts give the company a high EPS estimate of -$0.25. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -43.10%, and 11.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Minerva Neurosciences Inc. (NERV) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NERV, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on June 08, 2020, with the firm’s price target at $20-$10. BTIG Research coverage for the Minerva Neurosciences Inc. (NERV) stock in a research note released on May 14, 2020 offered a Buy rating with a price target of $23. Chardan Capital Markets was of a view on October 02, 2019 that the stock is Buy, while Chardan Capital Markets gave the stock Buy rating on September 25, 2019, issuing a price target of $17. William Blair on their part issued Outperform rating on September 18, 2019.