Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.70 Consensus Target Price from Brokerages

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

A number of research analysts have issued reports on the company. B. Riley lowered their price objective 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. BTIG Research dropped their price objective on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Oppenheimer downgraded shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 18th. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a report on Monday, August 19th. Finally, Citigroup dropped their price objective on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a report on Tuesday, June 18th.

Ovid Therapeutics Price Performance

Shares of OVID stock opened at $1.12 on Monday. 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 stock has a market cap of $79.49 million, a price-to-earnings ratio of -1.53 and a beta of 0.41. The business’s fifty day moving average is $1.03 and its 200 day moving average is $2.17. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Research analysts expect that Ovid Therapeutics will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of institutional investors have recently bought and sold shares of OVID. Driehaus Capital Management LLC purchased a new stake in shares of Ovid Therapeutics during the second quarter worth about $1,077,000. FFT Wealth Management LLC increased its holdings in shares of Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after buying an additional 75,530 shares during the last quarter. Empowered Funds LLC raised its position in shares of Ovid Therapeutics by 8.1% during the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after buying an additional 9,625 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Ovid Therapeutics by 45.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock valued at $349,000 after acquiring an additional 35,786 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new position in Ovid Therapeutics in the fourth quarter worth about $275,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

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.