Ovid Therapeutics (NASDAQ:OVID) Given Average Recommendation of “Buy” by Brokerages

Shares of Ovid Therapeutics (NASDAQ:OVID) have earned an average rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.10.

Several brokerages have commented on OVID. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. B. Riley restated a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a research report on Friday, August 8th.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $1.37 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 4.72. The stock has a fifty day moving average price of $1.02 and a 200 day moving average price of $0.57. Ovid Therapeutics has a 1-year low of $0.24 and a 1-year high of $1.82. The company has a market cap of $97.42 million, a PE ratio of -2.58 and a beta of 0.35.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Wednesday, August 13th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.10. The company had revenue of $6.27 million for the quarter, compared to analyst estimates of $0.09 million. Ovid Therapeutics had a negative net margin of 574.44% and a negative return on equity of 58.87%. Sell-side analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OVID. Affinity Asset Advisors LLC acquired a new position in shares of Ovid Therapeutics during the 1st quarter worth $208,000. Rosalind Advisors Inc. acquired a new position in shares of Ovid Therapeutics during the 2nd quarter worth $165,000. Assenagon Asset Management S.A. raised its stake in shares of Ovid Therapeutics by 699.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 560,830 shares of the company’s stock worth $175,000 after buying an additional 490,716 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Ovid Therapeutics by 12.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after buying an additional 237,445 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Ovid Therapeutics during the 2nd quarter worth $54,000. Institutional investors and hedge funds 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.