Ovid Therapeutics (NASDAQ:OVID) Now Covered by B. Riley

Analysts at B. Riley assumed coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a research report issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $9.00 price target on the stock. B. Riley’s target price suggests a potential upside of 194.12% from the company’s current price.

Several other equities analysts also recently commented on OVID. HC Wainwright began coverage on Ovid Therapeutics in a report on Monday. They set a “buy” rating and a $9.00 price target on the stock. Wedbush began coverage on Ovid Therapeutics in a report on Friday, April 5th. They set an “outperform” rating and a $8.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Ovid Therapeutics currently has a consensus rating of “Buy” and an average target price of $9.00.

Ovid Therapeutics Trading Up 0.3 %

NASDAQ:OVID opened at $3.06 on Tuesday. The stock’s 50 day moving average price is $3.15 and its 200 day moving average price is $3.33. Ovid Therapeutics has a 52 week low of $2.57 and a 52 week high of $4.14. The company has a market capitalization of $216.68 million, a P/E ratio of -4.08 and a beta of 0.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.55 and a current ratio of 9.55.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Friday, March 8th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%. The company had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.10 million. On average, research analysts forecast that Ovid Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Activity

In other Ovid Therapeutics news, CEO Jeremy M. Levin acquired 18,248 shares of Ovid Therapeutics stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $2.76 per share, with a total value of $50,364.48. Following the completion of the transaction, the chief executive officer now owns 3,616,715 shares of the company’s stock, valued at $9,982,133.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ovid Therapeutics

Several hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in shares of Ovid Therapeutics by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after acquiring an additional 13,756 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Ovid Therapeutics by 66.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after acquiring an additional 5,401 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Ovid Therapeutics by 45.6% in the first 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 period. Vestal Point Capital LP bought a new position in Ovid Therapeutics in the fourth quarter worth $275,000. Finally, FFT Wealth Management LLC bought a new position in Ovid Therapeutics in the fourth quarter worth $1,274,000. 72.24% of the stock is owned by institutional investors.

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.