Ovid Therapeutics (NASDAQ:OVID) Now Covered by Lifesci Capital

Lifesci Capital started coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a report issued on Monday morning,Benzinga reports. The firm issued an outperform rating and a $4.00 target price on the stock.

Other analysts also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $2.00 price objective on shares of Ovid Therapeutics in a report on Monday. Roth Capital started coverage on Ovid Therapeutics in a research report on Thursday, December 11th. They set a “buy” rating and a $3.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Wednesday, October 8th. Finally, Leerink Partners started coverage on Ovid Therapeutics in a research note on Monday, November 17th. They issued an “outperform” rating and a $5.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $3.88.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $1.79 on Monday. Ovid Therapeutics has a 52-week low of $0.24 and a 52-week high of $2.01. The stock has a fifty day moving average of $1.50 and a 200 day moving average of $1.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24. The firm has a market capitalization of $127.47 million, a price-to-earnings ratio of -3.58 and a beta of 0.04.

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

Institutional Investors Weigh In On Ovid Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Ovid Therapeutics by 7.0% in the third quarter. Vanguard Group Inc. now owns 2,820,813 shares of the company’s stock valued at $3,667,000 after acquiring an additional 184,698 shares during the period. Acadian Asset Management LLC grew its stake in shares of Ovid Therapeutics by 12.8% in the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after purchasing an additional 237,445 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in 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 valued at $359,000 after purchasing an additional 150,000 shares during the period. Assenagon Asset Management S.A. raised its position in Ovid Therapeutics by 112.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock valued at $1,202,000 after purchasing an additional 488,956 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Ovid Therapeutics in the 3rd quarter worth approximately $1,148,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.