Ovid Therapeutics (NASDAQ:OVID) Stock Rating Upgraded by Wall Street Zen

Ovid Therapeutics (NASDAQ:OVID) was upgraded by stock analysts at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Friday.

Several other research analysts also recently commented on OVID. William Blair raised shares of Ovid Therapeutics to a “strong-buy” rating in a report on Thursday, April 24th. BTIG Research cut their price target on shares of Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, HC Wainwright cut their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ovid Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $3.13.

Ovid Therapeutics Stock Up 14.8%

OVID opened at $0.55 on Friday. The company has a 50 day moving average of $0.33 and a 200 day moving average of $0.45. The company has a market cap of $39.11 million, a PE ratio of -1.57 and a beta of 0.13. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.47. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.22.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Ovid Therapeutics had a negative net margin of 4,562.23% and a negative return on equity of 34.17%. The firm had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.03 million. On average, sell-side analysts expect that Ovid Therapeutics will post -0.4 EPS for the current year.

Institutional Trading of Ovid Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of Ovid Therapeutics during the 1st quarter valued at $29,000. Nuveen LLC purchased a new stake in shares of Ovid Therapeutics during the 1st quarter valued at $37,000. Bank of America Corp DE raised its position in shares of Ovid Therapeutics by 49.7% during the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after buying an additional 18,841 shares in the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of Ovid Therapeutics during the 4th quarter valued at $65,000. Finally, Renaissance Technologies LLC raised its position in shares of Ovid Therapeutics by 142.0% during the 4th quarter. Renaissance Technologies LLC now owns 107,700 shares of the company’s stock valued at $101,000 after buying an additional 63,200 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

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.