Ovid Therapeutics (NASDAQ:OVID) Downgraded by Oppenheimer

Oppenheimer lowered shares of Ovid Therapeutics (NASDAQ:OVIDFree Report) from an outperform rating to a market perform rating in a report published on Tuesday morning, MarketBeat.com reports.

A number of other brokerages also recently commented on OVID. Citigroup reduced their price objective on Ovid Therapeutics from $4.00 to $3.50 and set a neutral rating for the company in a research report on Tuesday, May 7th. HC Wainwright reissued a buy rating and issued a $9.00 price target on shares of Ovid Therapeutics in a report on Thursday, May 16th. Wedbush initiated coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They issued an outperform rating and a $8.00 price objective for the company. Finally, B. Riley initiated coverage on shares of Ovid Therapeutics in a research note on Tuesday, April 30th. They issued a buy rating and a $9.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Ovid Therapeutics currently has a consensus rating of Moderate Buy and an average target price of $4.70.

View Our Latest Analysis on OVID

Ovid Therapeutics Price Performance

Shares of Ovid Therapeutics stock opened at $0.70 on Tuesday. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $2.92 and a 200-day simple moving average of $3.19. The stock has a market capitalization of $49.73 million, a price-to-earnings ratio of -0.96 and a beta of 0.58. Ovid Therapeutics has a 1-year low of $0.69 and a 1-year high of $4.14.

Ovid Therapeutics (NASDAQ:OVIDGet Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. Ovid Therapeutics had a negative net margin of 10,691.14% and a negative return on equity of 53.62%. The firm had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.11 million. On average, sell-side analysts expect that Ovid Therapeutics will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new position in Ovid Therapeutics in the fourth quarter valued at about $26,000. Price T Rowe Associates Inc. MD raised its stake in shares of Ovid Therapeutics by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after acquiring an additional 3,145 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Ovid Therapeutics in the 3rd quarter worth approximately $61,000. BNP Paribas Financial Markets grew its position in Ovid Therapeutics by 74.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after acquiring an additional 13,756 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Ovid Therapeutics by 52.7% during the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock valued at $128,000 after purchasing an additional 13,728 shares in the last quarter. 72.24% of the stock is owned by institutional investors.

Ovid Therapeutics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ovid Therapeutics (NASDAQ:OVID)

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