Ovid Therapeutics (NASDAQ:OVID) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a report released on Monday, Benzinga reports. HC Wainwright currently has a $3.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. B. Riley cut their price objective on Ovid Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a research report on Tuesday, June 18th. William Blair upgraded Ovid Therapeutics to a strong-buy rating in a report on Friday, August 30th. Oppenheimer downgraded shares of Ovid Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday, June 18th. BTIG Research cut their target price on shares of Ovid Therapeutics from $11.00 to $5.00 and set a buy rating for the company in a research note on Tuesday, June 18th. Finally, Citigroup reduced their price target on shares of Ovid Therapeutics from $3.50 to $1.20 and set a neutral rating for the company in a report on Tuesday, June 18th. Two investment 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. According to MarketBeat.com, Ovid Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $4.70.

Ovid Therapeutics Price Performance

Shares of Ovid Therapeutics stock opened at $1.13 on Monday. Ovid Therapeutics has a 12-month low of $0.68 and a 12-month high of $4.10. The stock has a market capitalization of $80.20 million, a P/E ratio of -1.55 and a beta of 0.42. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $1.09 and a two-hundred day moving average price of $1.95.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC bought a new stake in shares of Ovid Therapeutics in the 2nd quarter valued at approximately $1,077,000. FFT Wealth Management LLC boosted its stake in Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after buying an additional 75,530 shares in the last quarter. Empowered Funds LLC grew its position in Ovid Therapeutics by 8.1% in 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 period. Vestal Point Capital LP acquired a new position in Ovid Therapeutics during the fourth quarter worth $275,000. Finally, DCF Advisers LLC lifted its holdings in shares of 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 acquiring an additional 22,020 shares during the period. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.