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

Ovid Therapeutics Inc. (NASDAQ:OVID) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.70.

OVID has been the topic of several research analyst reports. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. BTIG Research lowered their target price 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. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a research note on Monday, August 19th. Citigroup lowered their target price 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. Finally, B. Riley lowered their price objective 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.

Ovid Therapeutics Stock Up 7.2 %

OVID stock opened at $1.19 on Monday. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.16. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The firm’s 50-day simple moving average is $1.05 and its 200 day simple moving average is $2.15. The stock has a market cap of $84.45 million, a PE ratio of -1.63 and a beta of 0.42.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.34. The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.14 million. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. As a group, sell-side analysts predict that Ovid Therapeutics will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. DCF Advisers LLC lifted its stake in shares of Ovid Therapeutics by 111.6% in the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after buying an additional 22,020 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Ovid Therapeutics by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after purchasing an additional 5,401 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Ovid Therapeutics by 22.1% during the 1st 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 during the last quarter. BNP Paribas Financial Markets raised its stake in Ovid Therapeutics by 74.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after purchasing an additional 13,756 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in Ovid Therapeutics during the 4th quarter valued at $275,000. 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.