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

Ovid Therapeutics Inc. (NASDAQ:OVID) has received a consensus rating of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.03.

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

Ovid Therapeutics Price Performance

NASDAQ OVID opened at $0.52 on Monday. Ovid Therapeutics has a fifty-two week low of $0.47 and a fifty-two week high of $3.45. The stock’s 50-day moving average is $0.70 and its two-hundred day moving average is $0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The firm has a market cap of $36.89 million, a P/E ratio of -1.11 and a beta of 0.29.

Institutional Investors Weigh In On Ovid Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd grew its position in Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after buying an additional 12,076 shares in the last quarter. Geode Capital Management LLC grew its position in Ovid Therapeutics by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after buying an additional 14,816 shares in the last quarter. Rhumbline Advisers grew its position in Ovid Therapeutics by 22.3% during the fourth quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after buying an additional 15,355 shares in the last quarter. SG Americas Securities LLC grew its position in Ovid Therapeutics by 83.9% during the fourth quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after buying an additional 17,172 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in Ovid Therapeutics by 1.1% during the fourth quarter. Kennedy Capital Management LLC now owns 1,545,387 shares of the company’s stock valued at $1,443,000 after purchasing an additional 17,402 shares in the last quarter. 72.24% of the stock is 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.