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

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

A number of analysts have commented on OVID shares. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research report on Wednesday, December 4th. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $1.00 on Wednesday. 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 stock has a market cap of $70.95 million, a P/E ratio of -2.13 and a beta of 0.29. The company has a fifty day moving average price of $1.14 and a 200 day moving average price of $1.19. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last announced 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). Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.15 million. Analysts anticipate that Ovid Therapeutics will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OVID. Driehaus Capital Management LLC acquired a new stake in shares of Ovid Therapeutics during the second quarter worth approximately $1,077,000. Geode Capital Management LLC increased 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 purchasing an additional 14,816 shares in the last quarter. FFT Wealth Management LLC increased its holdings in Ovid Therapeutics by 18.2% during the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after purchasing an additional 75,530 shares in the last quarter. GSA Capital Partners LLP raised its position in Ovid Therapeutics by 118.0% in the 3rd quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after purchasing an additional 141,002 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Ovid Therapeutics by 4,128.7% in the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after purchasing an additional 215,189 shares in the last quarter. 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.