HC Wainwright Reiterates “Buy” Rating for Ovid Therapeutics (NASDAQ:OVID)

Ovid Therapeutics (NASDAQ:OVID)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $3.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 165.49% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. B. Riley lowered 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 target 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. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. Finally, BTIG Research decreased their price target on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ovid Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $4.70.

Ovid Therapeutics Stock Performance

NASDAQ:OVID opened at $1.13 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.47 and a current ratio of 10.47. The stock has a market capitalization of $80.20 million, a P/E ratio of -1.55 and a beta of 0.44. The company has a 50 day moving average price of $1.13 and a 200 day moving average price of $2.49. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.14.

Institutional Investors Weigh In On Ovid Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Ovid Therapeutics by 22.1% during the 1st 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. grew its position in Ovid Therapeutics by 66.0% during the 1st 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 grew its position in Ovid Therapeutics by 8.1% during the 1st 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. BNP Paribas Financial Markets boosted its holdings in Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after buying an additional 13,756 shares in the last quarter. Finally, DCF Advisers LLC boosted its holdings in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after buying an additional 22,020 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.