Ovid Therapeutics (NASDAQ:OVID) Price Target Raised to $4.00 at HC Wainwright

Ovid Therapeutics (NASDAQ:OVID) had its price target hoisted by HC Wainwright from $2.00 to $4.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Roth Mkm started coverage on Ovid Therapeutics in a research report on Thursday, December 11th. They set a “buy” rating and a $3.00 price target on the stock. Wedbush upped their price objective on Ovid Therapeutics from $5.00 to $7.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of Ovid Therapeutics in a report on Thursday, March 26th. Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $4.63.

Ovid Therapeutics Trading Up 10.8%

NASDAQ OVID opened at $2.88 on Thursday. The company has a market cap of $379.81 million, a PE ratio of -9.29 and a beta of -0.03. The company has a current ratio of 8.97, a quick ratio of 8.97 and a debt-to-equity ratio of 0.09. Ovid Therapeutics has a 12 month low of $0.25 and a 12 month high of $3.11. The stock has a 50 day moving average of $1.91 and a 200-day moving average of $1.68.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Wednesday, March 18th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.16. The company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $0.06 million. Ovid Therapeutics had a negative return on equity of 23.98% and a negative net margin of 240.11%. On average, equities research analysts anticipate that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Benin Management CORP bought a new stake in Ovid Therapeutics in the 4th quarter valued at $31,000. Private Advisor Group LLC bought a new stake in Ovid Therapeutics in the 3rd quarter valued at $33,000. Apollon Wealth Management LLC bought a new stake in Ovid Therapeutics in the 3rd quarter valued at $36,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Ovid Therapeutics during the 4th quarter valued at $47,000. Finally, LPL Financial LLC lifted its position in shares of Ovid Therapeutics by 150.0% during the 4th quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock valued at $49,000 after acquiring an additional 18,000 shares during the period. 72.24% of the stock is currently owned by institutional investors.

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.