Ovid Therapeutics (NASDAQ:OVID) Coverage Initiated by Analysts at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald assumed coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a research note issued to investors on Friday, Marketbeat.com reports. The firm set an “overweight” rating on the stock.

Other research analysts have also recently issued reports about the company. Guggenheim assumed coverage on Ovid Therapeutics in a report on Tuesday. They issued a “buy” rating and a $7.00 price objective on the stock. UBS Group restated a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, September 11th. HC Wainwright upped their price target on Ovid Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Roth Capital restated a “buy” rating and issued a $8.00 price objective on shares of Ovid Therapeutics in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.12.

Ovid Therapeutics Trading Down 0.8%

Shares of OVID stock opened at $2.34 on Friday. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05. Ovid Therapeutics has a twelve month low of $1.18 and a twelve month high of $3.11. The company’s 50-day moving average price is $2.65 and its 200-day moving average price is $2.57. The stock has a market cap of $457.00 million, a price-to-earnings ratio of -7.55 and a beta of 0.22.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.04. The firm had revenue of $0.73 million for the quarter, compared to analyst estimates of $0.02 million. As a group, equities analysts predict that Ovid Therapeutics will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Several hedge funds have recently bought and sold shares of the company. Jupiter Topco LLC acquired a new position in Ovid Therapeutics in the 2nd quarter valued at about $55,898,000. BlackRock Inc. purchased a new position in shares of Ovid Therapeutics in the second quarter valued at approximately $29,115,000. Janus Henderson Group PLC acquired a new position in shares of Ovid Therapeutics in the first quarter valued at approximately $23,732,000. Affinity Asset Advisors LLC grew its holdings in shares of Ovid Therapeutics by 48.8% in the first quarter. Affinity Asset Advisors LLC now owns 10,636,318 shares of the company’s stock valued at $23,613,000 after purchasing an additional 3,486,318 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in Ovid Therapeutics during the 2nd quarter worth approximately $19,953,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare neurological disorders, including epilepsies and neurodevelopmental conditions. The company’s research programs are designed to address diseases with significant unmet medical needs and limited treatment options.

Ovid has developed a pipeline of investigational therapies targeting the underlying biology of neurological disorders. Its programs have included treatments for seizure disorders such as Dravet syndrome and Lennox-Gastaut syndrome, as well as potential therapies for other rare epileptic and neurodevelopmental conditions.