Ovid Therapeutics (NASDAQ:OVID) Given Average Recommendation of “Buy” by Analysts

Shares of Ovid Therapeutics (NASDAQ:OVID) have earned a consensus recommendation of “Buy” from the ten analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.8750.

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Roth Mkm initiated coverage on shares of Ovid Therapeutics in a research note on Thursday, December 11th. They issued a “buy” rating and a $3.00 price objective for the company. Leerink Partners started coverage on shares of Ovid Therapeutics in a research report on Monday, November 17th. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Lifesci Capital assumed coverage on shares of Ovid Therapeutics in a research note on Monday, December 22nd. They set an “outperform” rating and a $4.00 target price on the stock.

Hedge Funds Weigh In On Ovid Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Benin Management CORP bought a new position in shares of Ovid Therapeutics during the 4th quarter worth about $31,000. Private Advisor Group LLC acquired a new stake in Ovid Therapeutics during the third quarter worth about $33,000. Apollon Wealth Management LLC bought a new position in Ovid Therapeutics during the third quarter valued at about $36,000. Jane Street Group LLC acquired a new position in Ovid Therapeutics in the 2nd quarter valued at approximately $47,000. Finally, Total Clarity Wealth Management Inc. acquired a new position in Ovid Therapeutics in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $1.63 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a market capitalization of $116.07 million, a P/E ratio of -3.26 and a beta of 0.25. The company’s fifty day moving average price is $1.62 and its two-hundred day moving average price is $1.48. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $2.01.

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.