JMP Securities Reinstates Minerva Neurosciences (NERV) at Market Outperform
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JMP Securities analyst Jason N. Butler reinstates coverage on Minerva Neurosciences (NASDAQ: NERV) with a Market Outperform rating and a price target of $9.00 (from $18.00).
Analyst comments: "We look to an update following FDA feedback on the next steps with a best case scenario being submission of an NDA based on the currently available data and base case scenario involving conduct of an additional trial pre-approval. Our valuation is driven by the base case scenario and assumes approval and launch of roluperidone by YE 2023 (vs. 2021 prior) and a 60% probability of approval (vs. 70% prior)."
Shares of Minerva Neurosciences closed at $4.26 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJMP Securities, FDA
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