Minerva initiated with an Outperform at Citizens

Citizens initiated coverage of Minerva (NERV) with an Outperform rating and $14 price target Minerva is developing roluperidone for the treatment of negative symptoms of schizophrenia, the analyst tells investors in a research note. The firm says its confidence in positive results for the confirmatory Phase 3 study is supported by the positive results in the Phase 2b trial and “encouraging efficacy” in a previously conducted Phase 3 trial. Roluperidone has the potential to be the first and only approved therapy specifically targeting negative symptoms of schizophrenia, representing a blockbuster opportunity, contends Citizens.