Brokerages Set Ovid Therapeutics Inc. (NASDAQ:OVID) PT at $4.70

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.70.

Several analysts have recently weighed in on OVID shares. Oppenheimer lowered shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 18th. B. Riley decreased their price target on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. BTIG Research decreased their price target on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Citigroup decreased their price target on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Finally, Wedbush assumed coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They set an “outperform” rating and a $8.00 price target on the stock.

Ovid Therapeutics Stock Performance

NASDAQ OVID opened at $0.77 on Wednesday. The firm has a market cap of $54.57 million, a price-to-earnings ratio of -1.05 and a beta of 0.58. The company has a 50 day moving average of $2.63 and a 200-day moving average of $3.08. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a 1-year low of $0.68 and a 1-year high of $4.14.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.11 million. Ovid Therapeutics had a negative net margin of 10,691.14% and a negative return on equity of 53.62%. On average, equities analysts forecast that Ovid Therapeutics will post -0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new position in shares of Ovid Therapeutics during the fourth quarter worth $26,000. Price T Rowe Associates Inc. MD boosted its position in shares of Ovid Therapeutics by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after purchasing an additional 3,145 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after purchasing an additional 13,756 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Ovid Therapeutics by 52.7% during the fourth quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after purchasing an additional 13,728 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Ovid Therapeutics during the fourth quarter worth $253,000. 72.24% of the stock is owned by institutional investors.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.