Ovid Therapeutics Inc. (NASDAQ:OVID) Receives Consensus Recommendation of “Buy” from Analysts

Ovid Therapeutics Inc. (NASDAQ:OVID) has been given an average rating of “Buy” by the seven research firms that are currently covering the firm, MarketBeat reports. One research 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. The average 1-year price target among brokers that have covered the stock in the last year is $3.03.

Several equities analysts have recently commented on OVID shares. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a research report on Wednesday, December 4th. Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research note on Wednesday, January 29th. BTIG Research reduced their target price on Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wedbush reissued an “outperform” rating and set a $3.00 price target (down previously from $4.00) on shares of Ovid Therapeutics in a report on Wednesday, March 12th.

Ovid Therapeutics Trading Down 6.9 %

Shares of Ovid Therapeutics stock opened at $0.38 on Friday. Ovid Therapeutics has a 52-week low of $0.37 and a 52-week high of $3.45. The stock has a market cap of $26.93 million, a PE ratio of -0.81 and a beta of 0.29. The firm has a 50-day moving average of $0.58 and a 200-day moving average of $0.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66.

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

Hedge Funds Weigh In On Ovid Therapeutics

Large investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Ovid Therapeutics by 1,907.4% in 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 last quarter. Geode Capital Management LLC lifted its holdings in Ovid Therapeutics by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock valued at $1,555,000 after buying an additional 14,816 shares during the period. BNP Paribas Financial Markets boosted its position in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after acquiring an additional 215,189 shares during the last quarter. Barclays PLC grew its holdings in 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 during the period. Finally, SG Americas Securities LLC raised its position in shares of Ovid Therapeutics by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after acquiring an additional 17,172 shares in the last quarter. Institutional investors own 72.24% of the company’s stock.

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.