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

HC Wainwright restated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $3.00 target price on the stock.

OVID has been the subject of several other reports. Oppenheimer downgraded shares of Ovid Therapeutics from an outperform rating to a market perform rating in a report on Tuesday, June 18th. B. Riley lowered their price objective on shares of Ovid Therapeutics from $9.00 to $3.00 and set a buy rating on the stock in a research note on Tuesday, June 18th. BTIG Research cut their target price on shares of Ovid Therapeutics from $11.00 to $5.00 and set a buy rating for the company in a research note on Tuesday, June 18th. Wedbush assumed coverage on Ovid Therapeutics in a research report on Friday, April 5th. They set an outperform rating and a $8.00 target price on the stock. Finally, Citigroup lowered their price target on Ovid Therapeutics from $3.50 to $1.20 and set a neutral rating on the stock in a research note on Tuesday, June 18th. Two research 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, the stock has an average rating of Moderate Buy and a consensus price target of $4.70.

Ovid Therapeutics Price Performance

Shares of OVID opened at $0.77 on Tuesday. The business’s 50-day moving average is $2.54 and its 200-day moving average is $3.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.47 and a quick ratio of 10.47. The company has a market capitalization of $54.86 million, a price-to-earnings ratio of -1.06 and a beta of 0.45. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.14.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) 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 company had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.11 million. Equities research analysts expect that Ovid Therapeutics will post -0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

Several large investors have recently made changes to their positions in OVID. China Universal Asset Management Co. Ltd. acquired a new stake in Ovid Therapeutics in the 4th quarter valued at about $26,000. Price T Rowe Associates Inc. MD boosted its holdings in 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. BNP Paribas Financial Markets increased its position in Ovid Therapeutics by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after purchasing an additional 13,756 shares during the period. SG Americas Securities LLC raised 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 worth $128,000 after purchasing an additional 13,728 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics during the 4th quarter valued at about $253,000. Institutional investors own 72.24% of the company’s stock.

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.