Ovid Therapeutics Inc. (NASDAQ:OVID) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $4.70.

OVID has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a research report on Friday. BTIG Research reduced their price target on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. B. Riley dropped their price objective on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Wedbush began coverage on Ovid Therapeutics in a research note on Friday, April 5th. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, Citigroup dropped their price target on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $1.06 on Friday. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.14. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $2.75. The stock has a market cap of $75.20 million, a PE ratio of -1.45 and a beta of 0.44.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The business had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.11 million. Ovid Therapeutics had a negative return on equity of 53.62% and a negative net margin of 10,691.14%. On average, sell-side analysts predict 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 stock. FFT Wealth Management LLC bought a new stake in shares of Ovid Therapeutics in the fourth quarter worth $1,274,000. Empowered Funds LLC boosted its position in Ovid Therapeutics by 8.1% during the first quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after acquiring an additional 9,625 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Ovid Therapeutics by 45.6% during the first quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock valued at $349,000 after acquiring an additional 35,786 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Ovid Therapeutics during the 4th quarter worth about $275,000. Finally, SG Americas Securities LLC raised its holdings in shares of Ovid Therapeutics by 52.7% in the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after acquiring an additional 13,728 shares during the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.