Minerva Neurosciences (NERV) PT Raised to $17 at Jefferies

Jefferies analyst Chris Howerton raised his price target on Buy-rated Minerva Neurosciences (NASDAQ: NERV) to $17.00 (from $10.00) after the company announced robust and statistically significant topline results for '101 in schizophrenia, including hitting the key endpoint of reduction in neg. symptoms. In addition, '101 had low/no incidence of AEs normally associated with schizophrenia drugs, such as EPS.

"As a result, we are increasing our prob. of success for '101 to 65% & raising our PT to $17," Howerton said.

The analyst notes NERV plans to present a more comp. dataset at the Jefferies HC conf. (Jun 7-10).

For an analyst ratings summary and ratings history on Minerva Neurosciences click here. For more ratings news on Minerva Neurosciences click here.

Shares of Minerva Neurosciences closed at $11.80 yesterday.

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