Ovid Therapeutics (NASDAQ:OVID) Coverage Initiated at Leerink Partners

Analysts at Leerink Partners began coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a research report issued on Monday, MarketBeat reports. The firm set an “outperform” rating and a $5.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 278.79% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. B. Riley restated a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, October 10th. Oppenheimer began coverage on Ovid Therapeutics in a research report on Thursday, October 9th. They set an “outperform” rating and a $7.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ovid Therapeutics presently has an average rating of “Buy” and an average price target of $3.92.

Ovid Therapeutics Price Performance

Ovid Therapeutics stock opened at $1.32 on Monday. The stock has a 50-day moving average price of $1.44 and a two-hundred day moving average price of $0.86. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $2.01. The company has a market capitalization of $94.00 million, a PE ratio of -2.64 and a beta of 0.32. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.28.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $0.17 million. Ovid Therapeutics had a negative net margin of 550.04% and a negative return on equity of 63.79%. Analysts expect that Ovid Therapeutics will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OVID. Vanguard Group Inc. boosted its position in shares of Ovid Therapeutics by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,820,813 shares of the company’s stock valued at $3,667,000 after purchasing an additional 184,698 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Ovid Therapeutics by 12.8% in the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock valued at $650,000 after buying an additional 237,445 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Ovid Therapeutics by 15.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock worth $359,000 after buying an additional 150,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ovid Therapeutics by 112.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock worth $1,202,000 after buying an additional 488,956 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Ovid Therapeutics during the 3rd quarter worth approximately $1,148,000. 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.