Ovid Therapeutics (NASDAQ:OVID) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a research note released on Friday, Benzinga reports. HC Wainwright currently has a $3.00 price objective on the stock.

Several other analysts have also recently commented on OVID. Citigroup decreased their target price on Ovid Therapeutics from $3.50 to $1.20 and set a neutral rating for the company in a research report on Tuesday, June 18th. BTIG Research dropped their target price on Ovid Therapeutics from $11.00 to $5.00 and set a buy rating on the stock in a report on Tuesday, June 18th. B. Riley decreased their price target on shares of Ovid Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a report on Tuesday, June 18th. Wedbush began 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 on the stock. Finally, Oppenheimer lowered shares of Ovid Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $4.70.

Ovid Therapeutics Price Performance

OVID stock opened at $1.05 on Friday. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.14. The firm has a 50-day moving average of $1.71 and a two-hundred day moving average of $2.73. The firm has a market capitalization of $74.49 million, a PE ratio of -1.44 and a beta of 0.45. 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 (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating 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 business had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.11 million. On average, analysts forecast that Ovid Therapeutics will post -0.81 earnings per share for the current year.

Institutional Trading of Ovid Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of 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. Assenagon Asset Management S.A. bought a new position in Ovid Therapeutics during the fourth quarter valued at about $253,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Ovid Therapeutics in the fourth quarter worth about $26,000. FFT Wealth Management LLC bought a new stake in shares of Ovid Therapeutics during the 4th quarter worth about $1,274,000. Finally, Vestal Point Capital LP acquired a new position in shares of Ovid Therapeutics during the 4th quarter valued at about $275,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.