5 Penny Stocks with Upcoming Growth Catalysts

2. Minerva Neurosciences, Inc. (NASDAQ:NERV)

Number of Hedge Fund Holders: 5

Share Price as of March 14: $0.658

Minerva Neurosciences, Inc. (NASDAQ:NERV) is a clinical stage biopharmaceutical company headquartered in Waltham, Massachusetts. The company is focused on the treatment of central nervous system diseases.

On February 28, Minerva Neurosciences, Inc. (NASDAQ:NERV) announced the publication of its Roluperidone Phase 3 study results, which suggested that negative symptoms in patients with schizophrenia can potentially be treated, in addition to improving the everyday functions of patients. The clinical study demonstrated that Roluperidone is superior to placebo when it comes to treating schizophrenia. 

H.C. Wainwright analyst Douglas Tsao lowered his price target on Minerva Neurosciences, Inc. (NASDAQ:NERV) to $5 from $10 on March 4 and reiterated his ‘Buy’ rating on the shares. There is upside to the shares as the company discusses evidence for Roluperidone in treating the negative symptoms of schizophrenia and its plans to file a new drug application in the first half of 2022, the analyst informed investors in a bullish case for the stock. 

A total of 5 hedge funds were long Minerva Neurosciences, Inc. (NASDAQ:NERV) in Q4 2021, compared to 9 funds in the earlier quarter. Steven Boyd’s Armistice Capital is the leading shareholder of the company among that group with more than 1 million shares worth $820,000.