Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Rating of “Moderate Buy” by Brokerages

Ovid Therapeutics Inc. (NASDAQ:OVID) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $4.04.

A number of analysts have recently issued reports on OVID shares. William Blair raised shares of Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a report on Wednesday, December 4th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new position in Ovid Therapeutics during the 2nd quarter worth about $1,077,000. Geode Capital Management LLC grew its holdings in Ovid Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after acquiring an additional 14,816 shares in the last quarter. FFT Wealth Management LLC grew its holdings in Ovid Therapeutics by 18.2% during the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after acquiring an additional 75,530 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Ovid Therapeutics by 118.0% during the 3rd quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after acquiring an additional 141,002 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Ovid Therapeutics by 4,128.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after acquiring an additional 215,189 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Trading Up 1.0 %

OVID stock opened at $1.06 on Wednesday. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.10. The stock has a market capitalization of $75.27 million, a price-to-earnings ratio of -2.26 and a beta of 0.29. The firm’s fifty day simple moving average is $1.14 and its two-hundred day simple moving average is $1.21.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.15 million. As a group, analysts anticipate that Ovid Therapeutics will post -0.48 earnings per share for the current year.

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.