Will Minerva Neurosciences, Inc. (NERV) Short Squeeze Soon? The Stock Formed a Bearish Wedge Down

December 7, 2017 - By Hazel Jackson

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. The stock of Minerva Neurosciences, Inc. (NASDAQ:NERV) has “Buy” rating given on Friday, September 1 by Citigroup. The stock of Minerva Neurosciences, Inc. (NASDAQ:NERV) earned “Buy” rating by Jefferies on Thursday, May 12. The company was maintained on Friday, May 27 by Jefferies. The stock of Minerva Neurosciences, Inc. (NASDAQ:NERV) earned “Market Outperform” rating by JMP Securities on Wednesday, March 9. The stock of Minerva Neurosciences, Inc. (NASDAQ:NERV) earned “Buy” rating by Jefferies on Thursday, June 22.

More notable recent Minerva Neurosciences, Inc. (NASDAQ:NERV) news were published by: Marketwatch.com which released: “Minerva Neurosciences stock rises 7% on plans to advance schizophrenia drug to …” on May 15, 2017, also Fool.com with their article: “Why Minerva Neurosciences Inc. Fell 31.1% in July” published on August 07, 2017, Globenewswire.com published: “Minerva Neurosciences Announces Enrollment of First Patient in Phase 2b Trial …” on December 06, 2017. More interesting news about Minerva Neurosciences, Inc. (NASDAQ:NERV) were released by: Globenewswire.com and their article: “Minerva Neurosciences Names Dr. Justine Lalonde as Senior Vice President …” published on October 31, 2017 as well as Seekingalpha.com‘s news article titled: “A Deep Dive Into Minerva Neurosciences’ Pipeline” with publication date: May 16, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: