Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Recommendation of “Buy” by Brokerages

Ovid Therapeutics Inc. (NASDAQ:OVID) has earned an average recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat Ratings 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 1 year price target among brokers that have issued a report on the stock in the last year is $2.78.

Several research firms have recently weighed in on OVID. HC Wainwright decreased their price objective on shares of Ovid Therapeutics from $2.00 to $1.50 and set a “buy” rating for the company in a report on Tuesday, May 27th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th. BTIG Research decreased 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. Finally, Wedbush reiterated an “outperform” rating and issued a $3.00 price target (down from $4.00) on shares of Ovid Therapeutics in a research report on Wednesday, March 12th.

Institutional Investors Weigh In On Ovid Therapeutics

Large investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Ovid Therapeutics in the 1st quarter worth approximately $29,000. SG Americas Securities LLC grew its position 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 worth $35,000 after buying an additional 17,172 shares during the last quarter. Nuveen LLC purchased a new position in shares of Ovid Therapeutics in the 1st quarter worth approximately $37,000. Bank of America Corp DE grew its position in shares of Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after buying an additional 18,841 shares during the last quarter. Finally, Velan Capital Investment Management LP purchased a new position in shares of Ovid Therapeutics in the 4th quarter worth approximately $65,000. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Trading Down 3.0%

NASDAQ:OVID opened at $0.32 on Wednesday. The company’s 50-day simple moving average is $0.30 and its 200 day simple moving average is $0.59. The firm has a market capitalization of $22.83 million, a P/E ratio of -0.68 and a beta of 0.08. Ovid Therapeutics has a one year low of $0.24 and a one year high of $3.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66.

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

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.