H.C. Wainwright Thinks Minerva Neurosciences’ Stock is Going to Recover
In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Minerva Neurosciences (NERV), with a price target of $10.00. The company’s shares closed last Wednesday at $3.77, close to its 52-week low of $1.81.
According to TipRanks.com, Tsao is a 5-star analyst with an average return of 9.2% and a 52.6% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Crinetics Pharmaceuticals, Protagonist Therapeutics, and Amag Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Minerva Neurosciences with a $6.60 average price target, which is an 84.9% upside from current levels. In a report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $9.00 price target.
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Based on Minerva Neurosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.15 million. In comparison, last year the company had a GAAP net loss of $15.83 million.
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Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates to treat central nervous system diseases. Its product pipeline includes Roluperidone, Seltorexant, MIN-117, and MIN-301. The company was founded by Rogerio Vivaldi Coelho on April 23, 2007 and is headquartered in Cambridge, MA.
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