Ovid Therapeutics Inc (NASDAQ:OVID) shares reached a new 52-week low on Monday . The stock traded as low as $1.66 and last traded at $1.74, with a volume of 3804 shares traded. The stock had previously closed at $1.83.
Several analysts recently issued reports on OVID shares. Zacks Investment Research upgraded Ovid Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Saturday, March 9th. Piper Jaffray Companies dropped their target price on Ovid Therapeutics to $14.00 and set an “overweight” rating on the stock in a report on Sunday, March 10th. JMP Securities dropped their target price on Ovid Therapeutics from $26.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 8th. LADENBURG THALM/SH SH set a $27.00 target price on Ovid Therapeutics and gave the stock a “buy” rating in a report on Friday, March 8th. Finally, Cantor Fitzgerald set a $10.00 target price on Ovid Therapeutics and gave the stock a “buy” rating in a report on Monday, December 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $12.80.
The firm has a market capitalization of $71.11 million, a PE ratio of -0.87 and a beta of 1.96.
Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.03. On average, equities research analysts forecast that Ovid Therapeutics Inc will post -1.89 earnings per share for the current year.
In other Ovid Therapeutics news, CEO Jeremy M. Levin acquired 75,000 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were purchased at an average price of $2.00 per share, for a total transaction of $150,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.90% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in Ovid Therapeutics by 47.2% in the fourth quarter. Rhumbline Advisers now owns 16,551 shares of the company’s stock valued at $40,000 after buying an additional 5,310 shares during the period. Geode Capital Management LLC raised its stake in Ovid Therapeutics by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock valued at $231,000 after buying an additional 6,391 shares during the period. Dimensional Fund Advisors LP raised its stake in Ovid Therapeutics by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 87,257 shares of the company’s stock valued at $211,000 after buying an additional 8,995 shares during the period. SG Americas Securities LLC bought a new stake in Ovid Therapeutics in the fourth quarter valued at approximately $46,000. Finally, JPMorgan Chase & Co. raised its stake in Ovid Therapeutics by 136.9% in the third quarter. JPMorgan Chase & Co. now owns 54,832 shares of the company’s stock valued at $311,000 after buying an additional 31,687 shares during the period. Hedge funds and other institutional investors own 17.69% of the company’s stock.
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About Ovid Therapeutics (NASDAQ:OVID)
Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.
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