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

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $8.08.

A number of equities analysts have recently issued reports on the stock. HC Wainwright assumed coverage on shares of Ovid Therapeutics in a research note on Monday, April 29th. They issued a “buy” rating and a $9.00 price objective for the company. Citigroup cut their price target on shares of Ovid Therapeutics from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday. B. Riley assumed coverage on Ovid Therapeutics in a research note on Tuesday, April 30th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Wedbush started coverage on Ovid Therapeutics in a research report on Friday, April 5th. They set an “outperform” rating and a $8.00 target price for the company.

Insider Buying and Selling at Ovid Therapeutics

In other Ovid Therapeutics news, CEO Jeremy M. Levin purchased 18,248 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $2.76 per share, with a total value of $50,364.48. Following the completion of the acquisition, the chief executive officer now directly owns 3,616,715 shares of the company’s stock, valued at approximately $9,982,133.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OVID. SG Americas Securities LLC acquired a new stake in shares of Ovid Therapeutics in the 3rd quarter valued at $100,000. Jump Financial LLC acquired a new stake in Ovid Therapeutics in the third quarter worth about $61,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ovid Therapeutics by 17.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock worth $312,000 after purchasing an additional 11,926 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics during the 4th quarter valued at about $253,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Ovid Therapeutics in the 4th quarter valued at about $26,000. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Stock Performance

OVID stock traded down $0.02 during trading on Tuesday, reaching $3.00. 98,664 shares of the stock were exchanged, compared to its average volume of 189,738. Ovid Therapeutics has a twelve month low of $2.57 and a twelve month high of $4.14. The company has a current ratio of 9.55, a quick ratio of 9.55 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $212.43 million, a P/E ratio of -4.01 and a beta of 0.69. The stock has a 50 day simple moving average of $3.11 and a 200-day simple moving average of $3.31.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Friday, March 8th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The firm had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.10 million. Ovid Therapeutics had a negative return on equity of 49.76% and a negative net margin of 13,351.53%. As a group, sell-side analysts anticipate that Ovid Therapeutics will post -0.73 earnings per share for the current year.

About Ovid Therapeutics

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.