Tsao Maintains Hold on Minerva as Roluperidone Phase 3 Progress Balances Rising Losses; $7 Price Target Reaffirmed

H.C. Wainwright analyst Douglas Tsao reiterated a Hold rating on Minerva Neurosciences today and set a price target of $7.00.

Douglas Tsao has given his Hold rating due to a combination of factors, including the restarted Phase 3 program for roluperidone, which offers meaningful upside but still carries notable execution risk. The confirmatory trial design and the focus on higher-quality clinical sites are encouraging, yet the outcome will not be known until the expected topline data readout in the second half of 2027, leaving a long catalyst gap.

At the same time, Minerva’s financial profile shows significantly higher operating losses driven by sharp increases in G&A and R&D expenses, even though the current cash balance should fund operations for roughly the next year. Tsao’s valuation work, which applies a 5x multiple to risk-adjusted 2035 revenue with only a 50% success probability for roluperidone, supports a $7 price target that is maintained and suggests a balanced risk‑reward profile rather than a clear buy or sell case.

According to TipRanks, Tsao is a 5-star analyst with an average return of 20.0% and a 50.10% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Xenon, Pacira Pharmaceuticals, and Rezolute.