HC Wainwright Reaffirms “Buy” Rating for Ovid Therapeutics (NASDAQ:OVID)

HC Wainwright reiterated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a report published on Tuesday, Benzinga reports. HC Wainwright currently has a $3.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. Wedbush assumed coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They issued an outperform rating and a $8.00 target price on the stock. B. Riley cut their target price 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. Citigroup dropped 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. Oppenheimer downgraded shares of Ovid Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday, June 18th. Finally, BTIG Research dropped 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ovid Therapeutics presently has a consensus rating of Moderate Buy and an average price target of $4.70.

Ovid Therapeutics Stock Down 2.8 %

Shares of OVID opened at $0.75 on Tuesday. The company’s fifty day moving average is $2.49 and its two-hundred day moving average is $3.03. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.14. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.18. The firm has a market cap of $53.33 million, a PE ratio of -1.03 and a beta of 0.44.

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

Institutional Investors Weigh In On Ovid Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of OVID. China Universal Asset Management Co. Ltd. bought a new stake in shares of Ovid Therapeutics in the 4th quarter worth about $26,000. Price T Rowe Associates Inc. MD increased its position in shares of Ovid Therapeutics by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after purchasing an additional 3,145 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Ovid Therapeutics by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after purchasing an additional 13,756 shares during the last quarter. SG Americas Securities LLC increased its position 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 purchasing an additional 13,728 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Ovid Therapeutics in the 4th quarter worth about $253,000. 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.