Ovid Therapeutics’ (OVID) “Buy” Rating Reaffirmed at HC Wainwright

Ovid Therapeutics (NASDAQ:OVID)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $3.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 154.24% from the company’s current price.

Other equities research analysts also recently issued reports about the company. B. Riley reduced their target price on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. BTIG Research dropped their target price on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. Finally, Citigroup cut their target price on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.70.

Ovid Therapeutics Trading Up 5.4 %

Shares of OVID stock opened at $1.18 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 50-day simple moving average of $1.09 and a 200 day simple moving average of $1.99. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The stock has a market capitalization of $83.74 million, a P/E ratio of -1.62 and a beta of 0.42.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.14 million. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. On average, sell-side analysts expect that Ovid Therapeutics will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its stake in Ovid Therapeutics by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock worth $41,000 after acquiring an additional 5,401 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 buying an additional 3,145 shares in the last quarter. BNP Paribas Financial Markets boosted its position in 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 buying an additional 13,756 shares in the last quarter. DCF Advisers LLC grew its stake in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after buying an additional 22,020 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Ovid Therapeutics during the fourth quarter worth approximately $275,000. Institutional investors and hedge funds 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.