Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.70 Average PT from Brokerages

Ovid Therapeutics Inc. (NASDAQ:OVID) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $4.70.

OVID has been the topic of several research reports. Oppenheimer lowered Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a research note on Monday, September 30th. William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup lowered their price objective on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, BTIG Research lowered their price objective on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th.

Hedge Funds Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OVID. DCF Advisers LLC boosted its stake in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after buying an additional 22,020 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in 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 valued at $41,000 after buying an additional 5,401 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $54,000 after buying an additional 3,145 shares during the last quarter. BNP Paribas Financial Markets raised its position in Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after purchasing an additional 13,756 shares during the period. Finally, Vestal Point Capital LP purchased a new stake in Ovid Therapeutics during the fourth quarter valued at approximately $275,000. 72.24% of the stock is owned by institutional investors.

Ovid Therapeutics Stock Up 1.8 %

NASDAQ OVID opened at $1.15 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.73 and a current ratio of 5.73. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.10. The stock’s 50 day moving average is $1.10 and its 200 day moving average is $1.93.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.34. Ovid Therapeutics had a negative return on equity of 33.40% and a negative net margin of 5,237.15%. The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.14 million. On average, equities analysts predict that Ovid Therapeutics will post -0.49 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.