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

Ovid Therapeutics (NASDAQ:OVID)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $3.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 183.02% from the stock’s current price.

Several other equities research analysts have also issued reports on OVID. Oppenheimer lowered shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. BTIG Research lowered their price target on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Citigroup lowered their price target on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a research note 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. Finally, Wedbush initiated coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They set an “outperform” rating and a $8.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.70.

Ovid Therapeutics Trading Up 5.0 %

Shares of NASDAQ:OVID opened at $1.06 on Friday. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a 12 month low of $0.68 and a 12 month high of $4.14. The company’s fifty day simple moving average is $1.80 and its 200 day simple moving average is $2.76. The firm has a market cap of $75.20 million, a price-to-earnings ratio of -1.45 and a beta of 0.44.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.11 million. As a group, research analysts forecast that Ovid Therapeutics will post -0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 buying an additional 3,145 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 buying an additional 5,401 shares during the period. Empowered Funds LLC boosted its holdings in shares of 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 buying an additional 9,625 shares during the period. SG Americas Securities LLC boosted its holdings in shares of 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 buying an additional 13,728 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Ovid Therapeutics by 74.7% during the 1st 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 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.