5 Best Biotech Penny Stocks To Buy Now

Number of Hedge Fund Holders: 6

Share Price (as of June 17): $0.40

Minerva Neurosciences, Inc. (NASDAQ:NERV) deals in the development of drug therapies for the treatment of central nervous system (CNS) diseases, which includes its lead product roluperidone for the treatment of schizophrenia, and MIN-301 for the treatment of Parkinson’s disease. As of June 17, shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) trade on the Nasdaq stock exchange at $0.40.

H.C. Wainwright analyst Douglas Tsao in March reiterated a ‘Buy’ rating on Minerva Neurosciences, Inc. (NASDAQ:NERV) shares, and lowered the price target to $5 from $10. He noted that the company’s story is relatively unchanged, as it is preparing to meet with FDA for a Type C meeting to discuss the evidence for roluperidone monotherapy in treating the negative symptoms for schizophrenia, and plans to file a new drug application in the first half of this year.

6 out of the 912 hedge funds tracked by Insider Monkey owned stakes worth $1.93 million in Minerva Neurosciences, Inc. (NASDAQ:NERV) at the end of March. This shows growing investor confidence over the previous quarter, where 5 hedge funds were stakeholders in the biotech firm. Edging out Renaissance Technologies and Millennium Management, Steven Boyd’s Armistice Capital was the top shareholder of Minerva Neurosciences, Inc. (NASDAQ:NERV) in the first quarter, with a position worth $850,000.