Ovid Therapeutics (NASDAQ:OVID) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Ovid Therapeutics (NASDAQ:OVID) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other equities research analysts have also recently commented on OVID. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Wednesday, October 8th. Oppenheimer started coverage on shares of Ovid Therapeutics in a research note on Thursday, October 9th. They issued an “outperform” rating and a $7.00 price target for the company. Finally, B. Riley reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.70.

Ovid Therapeutics Trading Up 8.8%

NASDAQ OVID opened at $1.31 on Friday. The stock has a market cap of $92.93 million, a P/E ratio of -2.61 and a beta of 0.32. Ovid Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $2.01. The stock has a 50 day simple moving average of $1.44 and a two-hundred day simple moving average of $0.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.72 and a current ratio of 4.24.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Wednesday, November 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Ovid Therapeutics had a negative net margin of 550.04% and a negative return on equity of 63.79%. The business had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.17 million. On average, analysts forecast that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Institutional Trading of Ovid Therapeutics

A number of hedge funds have recently made changes to their positions in OVID. Bank of America Corp DE grew its stake in shares of Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after buying an additional 18,841 shares during the last quarter. XTX Topco Ltd bought a new stake in Ovid Therapeutics in the first quarter worth $29,000. Nuveen LLC purchased a new stake in shares of Ovid Therapeutics in the first quarter worth $37,000. Affinity Asset Advisors LLC bought a new position in shares of Ovid Therapeutics during the first quarter valued at $208,000. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Ovid Therapeutics by 15.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock worth $359,000 after purchasing an additional 150,000 shares during the last quarter. 72.24% of the stock is owned by institutional investors.

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.