Ovid Therapeutics (NASDAQ:OVID) PT Lowered to $5.00 at BTIG Research

Ovid Therapeutics (NASDAQ:OVID) had its price target decreased by BTIG Research from $11.00 to $5.00 in a research report sent to investors on Tuesday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the company. Citigroup decreased 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. HC Wainwright dropped their target price on Ovid Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a research note on Tuesday. B. Riley dropped their target price on Ovid Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a research note on Tuesday. Oppenheimer lowered Ovid Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday. Finally, Wedbush started coverage on Ovid Therapeutics in a research note on Friday, April 5th. They set an outperform rating and a $8.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $4.70.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $0.78 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.47 and a current ratio of 10.47. Ovid Therapeutics has a fifty-two week low of $0.69 and a fifty-two week high of $4.14. The firm has a market capitalization of $55.34 million, a PE ratio of -1.07 and a beta of 0.58. The stock’s 50-day simple moving average is $2.88 and its 200-day simple moving average is $3.17.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. The company 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%. As a group, equities research analysts forecast that Ovid Therapeutics will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OVID. Price T Rowe Associates Inc. MD grew its stake in Ovid Therapeutics by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after purchasing an additional 3,145 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Ovid Therapeutics by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after acquiring an additional 5,401 shares in the last quarter. Empowered Funds LLC raised its holdings in Ovid Therapeutics by 8.1% in the 1st 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ovid Therapeutics by 17.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock valued at $312,000 after acquiring an additional 11,926 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake 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 valued at $128,000 after purchasing an additional 13,728 shares during the period. Hedge funds and other institutional investors 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.