Brokerages Set Ovid Therapeutics Inc. (NASDAQ:OVID) PT at $3.03

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been given a consensus rating of “Buy” by the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.03.

Several equities research analysts have weighed in on the stock. Oppenheimer upgraded shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research note on Wednesday, January 29th. BTIG Research lowered their target price on shares of Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, March 24th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Wedbush restated an “outperform” rating and issued a $3.00 target price (down from $4.00) on shares of Ovid Therapeutics in a research note on Wednesday, March 12th.

Institutional Investors Weigh In On Ovid Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in OVID. Takeda Pharmaceutical Co. Ltd. acquired a new stake in shares of Ovid Therapeutics during the fourth quarter worth $7,012,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Ovid Therapeutics during the fourth quarter worth $934,000. Affinity Asset Advisors LLC purchased a new position in shares of Ovid Therapeutics during the first quarter worth $208,000. Assenagon Asset Management S.A. raised its holdings in shares of Ovid Therapeutics by 699.9% during the first quarter. Assenagon Asset Management S.A. now owns 560,830 shares of the company’s stock worth $175,000 after purchasing an additional 490,716 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ovid Therapeutics by 50.2% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 943,416 shares of the company’s stock worth $881,000 after purchasing an additional 315,126 shares during the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Stock Down 0.6%

Shares of NASDAQ:OVID opened at $0.30 on Friday. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $3.39. The company has a 50-day moving average price of $0.33 and a 200 day moving average price of $0.68. The company has a market cap of $21.41 million, a price-to-earnings ratio of -0.64 and a beta of 0.27.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Tuesday, May 13th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The business had revenue of $0.13 million for the quarter, compared to analyst estimates of $0.03 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 research analysts predict that Ovid Therapeutics will post -0.4 earnings per share for the current year.

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.