Roth Capital Initiates Coverage on Ovid Therapeutics (NASDAQ:OVID)

Research analysts at Roth Capital initiated coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a report released on Thursday, MarketBeat reports. The firm set a “buy” rating on the stock.

A number of other research firms also recently commented on OVID. Oppenheimer assumed coverage on shares of Ovid Therapeutics in a report on Thursday, October 9th. They issued an “outperform” rating and a $7.00 price objective for the company. Wall Street Zen lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright boosted their price objective on shares of Ovid Therapeutics from $1.50 to $2.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Leerink Partnrs upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Leerink Partners started coverage on shares of Ovid Therapeutics in a report on Monday, November 17th. They issued an “outperform” rating and a $5.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $3.86.

Ovid Therapeutics Stock Up 1.9%

NASDAQ:OVID opened at $1.65 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24. The company has a market capitalization of $117.50 million, a price-to-earnings ratio of -3.30 and a beta of 0.04. Ovid Therapeutics has a one year low of $0.24 and a one year high of $2.01. The stock has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.00.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Wednesday, November 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The firm had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.17 million. Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%. Sell-side analysts predict that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

Large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Ovid Therapeutics by 49.7% during the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after buying an additional 18,841 shares during the last quarter. Private Advisor Group LLC bought a new position in Ovid Therapeutics in the 3rd quarter worth approximately $33,000. Apollon Wealth Management LLC acquired a new stake in Ovid Therapeutics in the 3rd quarter valued at approximately $36,000. Persistent Asset Partners Ltd bought a new stake in Ovid Therapeutics during the 3rd quarter valued at $60,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Ovid Therapeutics during the 3rd quarter valued at $69,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.