Ovid Therapeutics (NASDAQ:OVID) Receives $3.10 Average PT from Brokerages

Shares of Ovid Therapeutics (NASDAQ:OVID) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.10.

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley restated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research report on Friday, August 8th. HC Wainwright dropped their price target on shares of Ovid Therapeutics from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Tuesday, May 27th. Finally, William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th.

Institutional Trading of Ovid Therapeutics

Several institutional investors have recently modified their holdings of OVID. Renaissance Technologies LLC grew its position in shares of Ovid Therapeutics by 142.0% in the fourth quarter. Renaissance Technologies LLC now owns 107,700 shares of the company’s stock valued at $101,000 after purchasing an additional 63,200 shares during the period. Kennedy Capital Management LLC grew its position in shares of Ovid Therapeutics by 1.1% in the fourth quarter. Kennedy Capital Management LLC now owns 1,545,387 shares of the company’s stock valued at $1,443,000 after purchasing an additional 17,402 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $934,000. Bank of America Corp DE grew its position in shares of Ovid Therapeutics by 49.7% in the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after purchasing an additional 18,841 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $272,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Stock Up 15.4%

NASDAQ:OVID opened at $0.97 on Wednesday. The firm has a market capitalization of $68.98 million, a P/E ratio of -1.83 and a beta of 0.20. Ovid Therapeutics has a 1-year low of $0.24 and a 1-year high of $1.47. The company’s fifty day moving average price is $0.45 and its 200-day moving average price is $0.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 4.72.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.10. The company had revenue of $6.27 million for the quarter, compared to analyst estimates of $0.09 million. Ovid Therapeutics had a negative net margin of 574.44% and a negative return on equity of 58.87%. As a group, equities research analysts anticipate that Ovid Therapeutics will post -0.4 EPS for the current year.

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.