Ovid Therapeutics Inc. (NASDAQ:OVID) Receives Consensus Recommendation of “Buy” from Analysts

Ovid Therapeutics Inc. (NASDAQ:OVID) has earned a consensus rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $3.03.

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. Oppenheimer upgraded shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a research note on Wednesday, January 29th. Wedbush reissued an “outperform” rating and set a $3.00 price objective (down from $4.00) on shares of Ovid Therapeutics in a report on Wednesday, March 12th. Finally, BTIG Research reduced their price target on shares of Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, March 24th.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $0.31 on Friday. The company’s fifty day moving average price is $0.56 and its two-hundred day moving average price is $0.89. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The firm has a market capitalization of $22.01 million, a P/E ratio of -0.66 and a beta of 0.29. Ovid Therapeutics has a 12 month low of $0.30 and a 12 month high of $3.45.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, March 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.19 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. On average, research analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Ovid Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in shares of Ovid Therapeutics by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock valued at $35,000 after buying an additional 17,172 shares during the period. XTX Topco Ltd lifted its holdings in Ovid Therapeutics by 46.2% in the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after acquiring an additional 12,076 shares during the last quarter. Bank of America Corp DE boosted its stake in Ovid Therapeutics by 49.7% in the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after acquiring an additional 18,841 shares during the period. FMR LLC grew its holdings 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 valued at $59,000 after purchasing an additional 47,723 shares during the last quarter. Finally, Velan Capital Investment Management LP acquired a new stake in shares of Ovid Therapeutics during the 4th quarter worth approximately $65,000. 72.24% of the stock is owned by institutional investors and hedge funds.

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.