Ovid Therapeutics (NASDAQ:OVID) Receives $5.12 Average Target Price from Brokerages

Ovid Therapeutics (NASDAQ:OVID) has received a consensus rating of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.1250.

OVID has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Tuesday, April 21st. BTIG Research reiterated a “buy” rating and issued a $4.00 price target on shares of Ovid Therapeutics in a report on Thursday, March 26th. Wedbush reissued an “outperform” rating and set a $7.00 price target on shares of Ovid Therapeutics in a research note on Wednesday, April 15th. Roth Capital restated a “buy” rating and set a $7.00 price objective on shares of Ovid Therapeutics in a report on Thursday, May 14th. Finally, HC Wainwright lifted their price objective on Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, April 9th.

Ovid Therapeutics Price Performance

Ovid Therapeutics stock traded down $0.08 during midday trading on Friday, reaching $2.52. 1,394,207 shares of the company were exchanged, compared to its average volume of 3,757,141. The firm’s 50-day simple moving average is $2.54 and its 200-day simple moving average is $2.17. Ovid Therapeutics has a 1 year low of $0.36 and a 1 year high of $3.11. The company has a market capitalization of $470.33 million, a price-to-earnings ratio of -8.69 and a beta of 0.18. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.17 and a current ratio of 10.17.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 22.51%. On average, analysts anticipate that Ovid Therapeutics will post -0.5 EPS for the current year.

Institutional Trading of Ovid Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benin Management CORP purchased a new position in shares of Ovid Therapeutics during the 4th quarter worth about $31,000. Private Advisor Group LLC purchased a new stake in Ovid Therapeutics in the third quarter valued at approximately $33,000. Total Clarity Wealth Management Inc. acquired a new position in Ovid Therapeutics during the fourth quarter worth approximately $47,000. Jane Street Group LLC acquired a new position in Ovid Therapeutics during the second quarter worth approximately $47,000. Finally, State of Wyoming purchased a new position in Ovid Therapeutics during the first quarter worth approximately $49,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.