Today Minerva Neurosciences Inc (NASDAQ:NERV) Reported Decrease in Shorted Shares

March 21, 2018 - By Linda Rogers

 Today Minerva Neurosciences Inc (NASDAQ:NERV) Reported Decrease in Shorted Shares

The stock of Minerva Neurosciences Inc (NASDAQ:NERV) registered a decrease of 35.42% in short interest. NERV’s total short interest was 1.18 million shares in March as published by FINRA. Its down 35.42% from 1.83 million shares, reported previously. With 273,100 shares average volume, it will take short sellers 4 days to cover their NERV’s short positions. The short interest to Minerva Neurosciences Inc’s float is 3.86%.

The stock increased 0.75% or $0.05 during the last trading session, reaching $6.7. About 74,856 shares traded. Minerva Neurosciences, Inc. (NASDAQ:NERV) has risen 56.56% since March 21, 2017 and is uptrending. It has outperformed by 39.86% the S&P500.

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 has market cap of $259.62 million. The companyÂ’s lead product candidate includes MIN-101, a compound for the treatment of patients with schizophrenia that completed Phase IIb clinical trial. It currently has negative earnings. It also offers MIN-202, which completed Phase IIa clinical trial for treating primary insomnia, as well as completed Phase 1b used for the treatment of major depressive disorder; and MIN-117, a compound that completed Phase IIa clinical trial for the treatment of patients suffering from major depressive disorder.

Minerva Neurosciences, Inc. (NASDAQ:NERV) Ratings Coverage

Among 3 analysts covering Minerva Neurosciences (NASDAQ:NERV), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Minerva Neurosciences has $17 highest and $10 lowest target. $12.67’s average target is 89.10% above currents $6.7 stock price. Minerva Neurosciences had 5 analyst reports since March 9, 2016 according to SRatingsIntel. Jefferies maintained the shares of NERV in report on Thursday, June 22 with “Buy” rating. On Wednesday, March 9 the stock rating was maintained by JMP Securities with “Market Outperform”. The stock has “Buy” rating by Jefferies on Thursday, May 12. Jefferies maintained Minerva Neurosciences, Inc. (NASDAQ:NERV) rating on Friday, May 27. Jefferies has “Buy” rating and $17 target. Citigroup initiated the shares of NERV in report on Friday, September 1 with “Buy” rating.

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