Minerva Neurosciences, Inc. NERV was a big mover last session with its shares rising roughly 7% on the day. The upside was owing to the company’s announcement that the FDA has accepted its Investigational New Drug (IND) application for pipeline candidate MIN-101 for the treatment of schizophrenia. This development led to far more shares changing hands on Thursday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past month’s volatile price range of $4.46 to $6.06.
This clinical-stage biopharmaceutical company has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate has also remained unchanged over the same period. Thursday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
Minerva currently has a Zacks Rank #2 (Buy) and its Earnings ESP is 0.00%.
Investors interested in the Med-Drugs space may consider Corcept Therapeutics Inc. CORT, which sports a Zacks Rank #1 (Strong Buy).
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