Traders Are Bearish Minerva Neurosciences, Inc. (NERV) After The Stock Formed Wedge Down

December 7, 2017 - By Henry Gaston

The stock of Minerva Neurosciences, Inc. (NERV) formed a down wedge with $5.10 target or 9.00 % below today’s $5.60 share price. The 6 months wedge indicates high risk for the $216.72M company. If the $5.10 price target is reached, the company will be worth $19.51 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 7.69% or $0.4 during the last trading session, reaching $5.6. About 150,990 shares traded. Minerva Neurosciences, Inc. (NASDAQ:NERV) has risen 56.56% since December 8, 2016 and is uptrending. It has outperformed by 39.86% the S&P500.

Analysts await Minerva Neurosciences, Inc. (NASDAQ:NERV) to report earnings on March, 12. They expect $-0.43 earnings per share, down 59.26 % or $0.16 from last year’s $-0.27 per share. After $-0.28 actual earnings per share reported by Minerva Neurosciences, Inc. for the previous quarter, Wall Street now forecasts 53.57 % negative EPS growth.

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 had 5 analyst reports since March 9, 2016 according to SRatingsIntel. On Thursday, June 22 the stock rating was maintained by Jefferies with “Buy”. The company was maintained on Wednesday, March 9 by JMP Securities. The stock of Minerva Neurosciences, Inc. (NASDAQ:NERV) has “Buy” rating given on Thursday, May 12 by Jefferies. The rating was maintained by Jefferies with “Buy” on Friday, May 27. Citigroup initiated the shares of NERV in report on Friday, September 1 with “Buy” rating.

More notable recent Minerva Neurosciences, Inc. (NASDAQ:NERV) news were published by: Globenewswire.com which released: “Minerva Neurosciences Names Dr. Justine Lalonde as Senior Vice President …” on October 31, 2017, also Globenewswire.com with their article: “Minerva Neurosciences Announces Departure of Directors” published on July 24, 2017, Seekingalpha.com published: “A Deep Dive Into Minerva Neurosciences’ Pipeline” on May 16, 2017. More interesting news about Minerva Neurosciences, Inc. (NASDAQ:NERV) were released by: Seekingalpha.com and their article: “Minerva Neurosciences’ (NERV) CEO Remy Luthringer on Q2 2017 Results …” published on August 05, 2017 as well as Marketwatch.com‘s news article titled: “Minerva Neurosciences stock rises 7% on plans to advance schizophrenia drug to …” with publication date: May 15, 2017.

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