Minerva Neurosciences, Inc. (NASDAQ:NERV) Short Interest Up 35.5% in February

Minerva Neurosciences, Inc. (NASDAQ:NERV) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 56,900 shares, an increase of 35.5% from the February 13th total of 42,000 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 43,600 shares, the days-to-cover ratio is presently 1.3 days.

Analysts Set New Price Targets

A number of analysts recently commented on NERV shares. HC Wainwright reiterated a “neutral” rating and issued a $5.00 price objective on shares of Minerva Neurosciences in a research report on Wednesday, February 26th. StockNews.com started coverage on Minerva Neurosciences in a research report on Monday, March 10th. They issued a “sell” rating for the company.

Minerva Neurosciences Price Performance

Shares of Minerva Neurosciences stock traded up $0.02 during trading on Monday, hitting $1.56. 24,600 shares of the company were exchanged, compared to its average volume of 29,134. The firm has a market capitalization of $10.91 million, a P/E ratio of -3.55 and a beta of 0.10. Minerva Neurosciences has a 1-year low of $1.42 and a 1-year high of $3.69. The firm’s fifty day moving average price is $2.01 and its 200 day moving average price is $2.30.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.49. As a group, equities research analysts anticipate that Minerva Neurosciences will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Northern Trust Corp increased its holdings in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 60.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,878 shares of the biopharmaceutical company’s stock after purchasing an additional 13,829 shares during the period. Northern Trust Corp owned approximately 0.53% of Minerva Neurosciences worth $82,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 34.56% of the company’s stock.

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.