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

Ovid Therapeutics Inc. (NASDAQ:OVID) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $4.70.

OVID has been the subject of a number of research reports. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. B. Riley lowered their target price on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. BTIG Research reduced their price target on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a research 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. Finally, Citigroup dropped their price objective 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Driehaus Capital Management LLC purchased a new stake in Ovid Therapeutics in the 2nd quarter worth $1,077,000. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 13,756 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of Ovid Therapeutics during the 4th quarter worth about $275,000. DCF Advisers LLC lifted its stake in Ovid Therapeutics by 111.6% in the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after buying an additional 22,020 shares in the last quarter. Finally, FFT Wealth Management LLC boosted its holdings in Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after buying an additional 75,530 shares during the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

Ovid Therapeutics Trading Down 2.7 %

Ovid Therapeutics stock opened at $1.10 on Friday. The stock has a 50-day moving average price of $1.10 and a 200 day moving average price of $1.92. The company has a market capitalization of $78.04 million, a price-to-earnings ratio of -1.51 and a beta of 0.39. Ovid Therapeutics has a 52 week low of $0.68 and a 52 week high of $4.10. 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 (NASDAQ:OVID) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.34. The business had revenue of $0.17 million during 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%. Sell-side analysts anticipate that Ovid Therapeutics will post -0.49 EPS for the current year.

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.