Brokerages Set Ovid Therapeutics Inc. (NASDAQ:OVID) Price Target at $4.04

Ovid Therapeutics Inc. (NASDAQ:OVID) has earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $4.04.

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On Ovid Therapeutics

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd grew its position in Ovid Therapeutics by 46.2% in the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after buying an additional 12,076 shares during the last quarter. DCF Advisers LLC boosted 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 valued at $32,000 after acquiring an additional 22,020 shares in the last quarter. FMR LLC increased its stake in shares of Ovid Therapeutics by 1,907.4% during the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after acquiring an additional 47,723 shares during the period. Verition Fund Management LLC acquired a new position in shares of Ovid Therapeutics during the third quarter worth about $88,000. Finally, Barclays PLC lifted its position in Ovid Therapeutics by 311.2% in the third quarter. Barclays PLC now owns 84,175 shares of the company’s stock valued at $98,000 after purchasing an additional 63,702 shares during the period. 72.24% of the stock is owned by institutional investors and hedge funds.

Ovid Therapeutics Stock Down 5.9 %

NASDAQ OVID opened at $0.76 on Friday. The stock has a 50 day moving average price of $1.05 and a 200-day moving average price of $1.07. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.10. The company has a market capitalization of $53.75 million, a P/E ratio of -1.61 and a beta of 0.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations 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, equities analysts predict that Ovid Therapeutics will post -0.48 EPS for the current fiscal year.

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.