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

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $4.03.

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

Hedge Funds Weigh In On Ovid Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Ovid Therapeutics by 1,907.4% during the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after purchasing an additional 47,723 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ovid Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after acquiring an additional 14,816 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Ovid Therapeutics by 4,128.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after acquiring an additional 215,189 shares during the last quarter. Barclays PLC grew its holdings in Ovid Therapeutics by 311.2% during the 3rd quarter. Barclays PLC now owns 84,175 shares of the company’s stock worth $98,000 after acquiring an additional 63,702 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Ovid Therapeutics by 83.9% during the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after acquiring an additional 17,172 shares during the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Price Performance

Shares of NASDAQ:OVID opened at $0.53 on Monday. The firm has a 50 day moving average of $0.75 and a 200-day moving average of $1.00. The stock has a market capitalization of $37.64 million, a PE ratio of -1.13 and a beta of 0.30. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a 12 month low of $0.52 and a 12 month high of $3.52.

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.