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

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $4.70.

A number of equities analysts recently weighed in on OVID shares. B. Riley decreased their price objective on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Oppenheimer lowered Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. Citigroup reduced their price target on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. BTIG Research reduced their price target on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Finally, Wedbush assumed coverage on Ovid Therapeutics in a research report on Friday, April 5th. They issued an “outperform” rating and a $8.00 price objective on the stock.

Ovid Therapeutics Stock Performance

NASDAQ:OVID opened at $1.06 on Friday. Ovid Therapeutics has a 1-year low of $0.68 and a 1-year high of $4.14. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $1.76 and its 200-day moving average is $2.75. The stock has a market cap of $75.20 million, a P/E ratio of -1.45 and a beta of 0.44.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts anticipate that Ovid Therapeutics will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On Ovid Therapeutics

Several hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in Ovid Therapeutics during the fourth quarter valued at $26,000. Price T Rowe Associates Inc. MD grew its holdings in Ovid Therapeutics by 22.1% during 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 during the period. BNP Paribas Financial Markets grew its holdings in Ovid Therapeutics by 74.7% during the first 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 period. SG Americas Securities LLC grew its holdings in Ovid Therapeutics by 52.7% during the fourth 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. Finally, Assenagon Asset Management S.A. bought a new position in shares of Ovid Therapeutics in the fourth quarter worth about $253,000. 72.24% of the stock is currently owned by institutional investors.

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.