Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $4.70.

Several equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a research note on Monday. B. Riley reduced their price objective 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. William Blair raised shares of Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup reduced 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 report on Tuesday, June 18th. Finally, Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th.

Institutional Investors Weigh In On Ovid Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DCF Advisers LLC boosted its stake in Ovid Therapeutics by 111.6% in the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after purchasing an additional 22,020 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Ovid Therapeutics by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock worth $41,000 after buying an additional 5,401 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 3,145 shares in the last quarter. BNP Paribas Financial Markets raised its position in 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 buying an additional 13,756 shares during the last quarter. Finally, Vestal Point Capital LP bought a new stake in Ovid Therapeutics in the 4th quarter valued at approximately $275,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Stock Performance

OVID opened at $1.13 on Friday. The firm has a 50 day simple moving average of $1.09 and a 200 day simple moving average of $1.95. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The company has a market cap of $80.20 million, a price-to-earnings ratio of -1.55 and a beta of 0.42. 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 earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.34. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. The company had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.14 million. On average, sell-side analysts anticipate that Ovid Therapeutics will post -0.49 earnings per share for the current year.

Ovid Therapeutics Company 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.