Ovid Therapeutics (NASDAQ:OVID) Receives Consensus Rating of “Buy” from Analysts

Shares of Ovid Therapeutics (NASDAQ:OVID) have received an average recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $3.8750.

A number of analysts have issued reports on OVID shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Thursday, January 22nd. Roth Mkm started coverage on Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price target for the company. Wall Street Zen lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Oppenheimer began coverage on shares of Ovid Therapeutics in a research report on Thursday, October 9th. They set an “outperform” rating and a $7.00 price objective for the company. Finally, Leerink Partners initiated coverage on shares of Ovid Therapeutics in a report on Monday, November 17th. They issued an “outperform” rating and a $5.00 target price for the company.

Ovid Therapeutics Trading Up 2.6%

NASDAQ OVID opened at $1.55 on Wednesday. Ovid Therapeutics has a 52 week low of $0.24 and a 52 week high of $2.01. The firm has a 50 day moving average of $1.64 and a two-hundred day moving average of $1.36. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $110.38 million, a PE ratio of -3.10 and a beta of 0.25.

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 for the quarter, compared to analysts’ expectations of $0.17 million. Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%. As a group, research analysts expect that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in OVID. Benin Management CORP purchased a new position in Ovid Therapeutics in the 4th quarter valued at $31,000. Private Advisor Group LLC purchased a new position in Ovid Therapeutics during the 3rd quarter worth $33,000. Apollon Wealth Management LLC acquired a new stake in shares of Ovid Therapeutics in the 3rd quarter worth $36,000. Jane Street Group LLC purchased a new stake in shares of Ovid Therapeutics in the second quarter valued at about $47,000. Finally, Total Clarity Wealth Management Inc. purchased a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

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.