BTIG Research Issues Pessimistic Forecast for Ovid Therapeutics (NASDAQ:OVID) Stock Price

Ovid Therapeutics (NASDAQ:OVID) had its price objective decreased by investment analysts at BTIG Research from $5.00 to $4.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other research analysts also recently issued research reports about the company. Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price on the stock in a report on Wednesday, January 29th. Wedbush reaffirmed an “outperform” rating and set a $3.00 target price (down previously from $4.00) on shares of Ovid Therapeutics in a report on Wednesday, March 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $3.03.

Ovid Therapeutics Trading Up 2.3 %

Shares of OVID opened at $0.44 on Monday. The company has a market capitalization of $30.92 million, a P/E ratio of -0.93 and a beta of 0.29. Ovid Therapeutics has a one year low of $0.42 and a one year high of $3.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66. The stock has a 50-day moving average price of $0.61 and a 200 day moving average price of $0.93.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.19 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. Sell-side analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

Several large investors have recently added to or reduced their stakes in OVID. FMR LLC increased its position in shares of Ovid Therapeutics by 1,907.4% during the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after purchasing an additional 47,723 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Ovid Therapeutics by 4,128.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after acquiring an additional 215,189 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Ovid Therapeutics during the 3rd quarter worth $88,000. XTX Topco Ltd boosted its stake in shares of Ovid Therapeutics by 46.2% during the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after acquiring an additional 12,076 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Ovid Therapeutics by 311.2% during the 3rd quarter. Barclays PLC now owns 84,175 shares of the company’s stock worth $98,000 after acquiring an additional 63,702 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.