Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have received a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.03.

Several brokerages have recently commented on OVID. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research report on Wednesday, December 4th. Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research report on Wednesday, January 29th.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $0.64 on Thursday. The firm has a market cap of $45.59 million, a price-to-earnings ratio of -1.37 and a beta of 0.30. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $0.89 and its two-hundred day moving average is $1.04. Ovid Therapeutics has a 52-week low of $0.64 and a 52-week high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. Analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in Ovid Therapeutics by 83.9% during the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock valued at $35,000 after acquiring an additional 17,172 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Ovid Therapeutics by 46.2% in the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after acquiring an additional 12,076 shares during the period. FMR LLC boosted its holdings in shares of Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after acquiring an additional 47,723 shares in the last quarter. Verition Fund Management LLC bought a new stake in Ovid Therapeutics during the third quarter worth approximately $88,000. Finally, Rhumbline Advisers lifted its position in Ovid Therapeutics by 22.3% in the fourth quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after purchasing an additional 15,355 shares during the period. 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.