HC Wainwright Reiterates Buy Rating for Ovid Therapeutics (NASDAQ:OVID)

HC Wainwright restated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a research note published on Monday morning, Benzinga reports. They currently have a $3.00 price target on the stock.

OVID has been the topic of a number of other reports. 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 research report on Tuesday, June 18th. BTIG Research decreased their price target on Ovid Therapeutics from $11.00 to $5.00 and set a buy rating on the stock in a report on Tuesday, June 18th. Citigroup cut 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 report on Tuesday, June 18th. Oppenheimer lowered shares of Ovid Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday, June 18th. Finally, William Blair raised shares of Ovid Therapeutics to a strong-buy rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $4.70.

Ovid Therapeutics Stock Performance

Shares of NASDAQ:OVID opened at $1.13 on Monday. The business has a fifty day moving average of $1.09 and a 200-day moving average of $1.95. The firm has a market cap of $80.20 million, a PE ratio of -1.55 and a beta of 0.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.73 and a current ratio of 5.73. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.14 million. On average, equities research analysts predict that Ovid Therapeutics will post -0.49 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

A number of hedge funds have recently modified their holdings of OVID. DCF Advisers LLC increased its stake in Ovid Therapeutics by 111.6% in the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after purchasing an additional 22,020 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of 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 buying an additional 5,401 shares in 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 worth $54,000 after buying an additional 3,145 shares during the period. BNP Paribas Financial Markets lifted 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 worth $98,000 after acquiring an additional 13,756 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Ovid Therapeutics in the fourth quarter valued at about $275,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.