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

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $4.70.

A number of equities analysts have weighed in on the stock. Wedbush assumed coverage on shares of Ovid Therapeutics in a research report on Friday, April 5th. They issued an “outperform” rating and a $8.00 price objective for the company. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. B. Riley decreased their price objective on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Citigroup decreased their price objective on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research report on Tuesday.

Hedge Funds Weigh In On Ovid Therapeutics

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Ovid Therapeutics by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after purchasing an additional 3,145 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Ovid Therapeutics by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock worth $41,000 after purchasing an additional 5,401 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Ovid Therapeutics by 8.1% during the first quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock worth $391,000 after purchasing an additional 9,625 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Ovid Therapeutics by 17.2% during the third 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. Finally, SG Americas Securities LLC lifted its position in shares of Ovid Therapeutics by 52.7% during the fourth quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after purchasing an additional 13,728 shares during the last quarter. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Stock Down 10.3 %

Shares of Ovid Therapeutics stock opened at $0.77 on Wednesday. The company has a fifty day moving average price of $2.54 and a 200 day moving average price of $3.04. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.14. The stock has a market cap of $54.86 million, a price-to-earnings ratio of -1.06 and a beta of 0.45.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $0.11 million. Equities research analysts forecast that Ovid Therapeutics will post -0.81 earnings per share for the current fiscal year.

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.