Ovid Therapeutics (NASDAQ:OVID) Issues Quarterly Earnings Results

Ovid Therapeutics (NASDAQ:OVID) issued its earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03, Zacks reports. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%.

Ovid Therapeutics Stock Down 1.8 %

OVID stock traded down $0.01 during midday trading on Tuesday, hitting $0.48. The company’s stock had a trading volume of 21,722 shares, compared to its average volume of 419,015. The firm has a 50-day simple moving average of $0.69 and a 200-day simple moving average of $0.97. The firm has a market capitalization of $34.16 million, a P/E ratio of -1.03 and a beta of 0.29. 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 52-week low of $0.47 and a 52-week high of $3.45.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ovid Therapeutics stock. Bank of America Corp DE raised its stake in Ovid Therapeutics Inc. (NASDAQ:OVID) by 49.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,733 shares of the company’s stock after purchasing an additional 18,841 shares during the period. Bank of America Corp DE owned 0.08% of Ovid Therapeutics worth $53,000 as of its most recent SEC filing. 72.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on OVID. Oppenheimer raised shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective for the company in a research note on Wednesday, January 29th. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ovid Therapeutics has an average rating of “Buy” and an average price target of $4.03.

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.