Ovid Therapeutics’ (OVID) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $2.00 price objective on the stock.

Several other research analysts have also recently issued reports on OVID. Wall Street Zen cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Leerink Partnrs raised Ovid Therapeutics to a “strong-buy” rating in a research report on Monday, November 17th. Oppenheimer started coverage on Ovid Therapeutics in a research note on Thursday, October 9th. They set an “outperform” rating and a $7.00 price objective for the company. B. Riley reissued a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. Finally, Leerink Partners assumed coverage on Ovid Therapeutics in a report on Monday, November 17th. They set an “outperform” rating and a $5.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $3.88.

Ovid Therapeutics Trading Up 21.8%

Ovid Therapeutics stock opened at $1.79 on Monday. The stock has a 50-day moving average price of $1.50 and a 200 day moving average price of $1.07. The company has a market capitalization of $127.47 million, a price-to-earnings ratio of -3.58 and a beta of 0.04. Ovid Therapeutics has a 52 week low of $0.24 and a 52 week high of $2.01. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.28.

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

Institutional Trading of Ovid Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in OVID. Private Advisor Group LLC acquired a new position in shares of Ovid Therapeutics during the 3rd quarter worth approximately $33,000. Apollon Wealth Management LLC acquired a new stake in Ovid Therapeutics in the 3rd quarter valued at $36,000. Nuveen LLC purchased a new stake in Ovid Therapeutics in the 1st quarter worth $37,000. Jane Street Group LLC acquired a new position in Ovid Therapeutics during the second quarter worth $47,000. Finally, Velan Capital Investment Management LP raised its position in Ovid Therapeutics by 64.9% during the second quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock worth $53,000 after acquiring an additional 63,000 shares during the period. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

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.