Ovid Therapeutics Inc. (NASDAQ:OVID) Receives Average Recommendation of “Moderate Buy” from Analysts

Ovid Therapeutics Inc. (NASDAQ:OVID) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.04.

Several research firms have issued reports on OVID. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research report on Monday, September 30th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th.

Ovid Therapeutics Stock Down 0.8 %

Shares of NASDAQ:OVID opened at $1.17 on Tuesday. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $1.15 and its 200-day simple moving average is $1.71. The company has a market cap of $83.03 million, a price-to-earnings ratio of -2.72 and a beta of 0.39.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $0.17 million for the quarter, compared to analyst estimates 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, equities research analysts predict that Ovid Therapeutics will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On Ovid Therapeutics

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ovid Therapeutics by 22.1% in the first 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 increased its position in 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 buying an additional 13,756 shares in the last quarter. DCF Advisers LLC raised its holdings in shares of Ovid Therapeutics by 111.6% in the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after acquiring an additional 22,020 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Ovid Therapeutics in the third quarter valued at $102,000. Finally, Empowered Funds LLC boosted its stake in shares of Ovid Therapeutics by 8.1% during the first quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after acquiring an additional 9,625 shares during the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

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.