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

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.04.

Several brokerages have recently commented on OVID. William Blair raised shares of Ovid Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research report on Monday, September 30th.

Ovid Therapeutics Stock Up 1.8 %

Ovid Therapeutics stock opened at $1.11 on Friday. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.10. The stock has a market cap of $78.82 million, a P/E ratio of -2.36 and a beta of 0.41. The company’s 50-day moving average price is $1.16 and its two-hundred day moving average price is $1.42. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. As a group, analysts expect that Ovid Therapeutics will post -0.49 EPS for the current year.

Institutional Trading of Ovid Therapeutics

Hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC purchased a new position in shares of Ovid Therapeutics during the 2nd quarter valued at $1,077,000. Geode Capital Management LLC grew its holdings in Ovid Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock valued at $1,555,000 after buying an additional 14,816 shares in the last quarter. FFT Wealth Management LLC increased its position in shares of Ovid Therapeutics by 18.2% during the second quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after buying an additional 75,530 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Ovid Therapeutics by 118.0% in the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after buying an additional 141,002 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Ovid Therapeutics by 4,128.7% in the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after acquiring an additional 215,189 shares during the period. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.