DCF Advisers LLC Raises Stock Position in Ovid Therapeutics Inc. (NASDAQ:OVID)

DCF Advisers LLC boosted its holdings in shares of Ovid Therapeutics Inc. (NASDAQ:OVID) by 111.6% in the second quarter, HoldingsChannel reports. The firm owned 41,750 shares of the company’s stock after buying an additional 22,020 shares during the period. DCF Advisers LLC’s holdings in Ovid Therapeutics were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its holdings in Ovid Therapeutics by 66.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after acquiring an additional 5,401 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after purchasing an additional 3,145 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Ovid Therapeutics by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after purchasing an additional 13,756 shares during the period. Vestal Point Capital LP purchased a new stake in Ovid Therapeutics during the fourth quarter worth $275,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Ovid Therapeutics by 45.6% during the first quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock worth $349,000 after buying an additional 35,786 shares in the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on OVID. Citigroup lowered their target price 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. Oppenheimer downgraded Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. B. Riley reduced their target price on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.70.

Ovid Therapeutics Price Performance

Shares of Ovid Therapeutics stock opened at $1.17 on Friday. The stock has a market capitalization of $83.01 million, a P/E ratio of -1.60 and a beta of 0.42. The business has a 50 day simple moving average of $1.07 and a two-hundred day simple moving average of $2.08. Ovid Therapeutics Inc. has a 12 month low of $0.68 and a 12 month high of $4.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.73 and a quick ratio of 5.73.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. The firm had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.14 million. Ovid Therapeutics had a negative return on equity of 33.40% and a negative net margin of 5,237.15%. As a group, analysts predict that Ovid Therapeutics Inc. will post -0.49 EPS for the current fiscal year.

Ovid Therapeutics Profile

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.