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

Ovid Therapeutics (NASDAQ:OVID) has earned a consensus rating of “Buy” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.8750.

A number of equities research analysts have recently weighed in on OVID shares. B. Riley restated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. HC Wainwright restated a “buy” rating and issued a $2.00 price target on shares of Ovid Therapeutics in a research note on Monday. Leerink Partners started coverage on Ovid Therapeutics in a report on Monday, November 17th. They set an “outperform” rating and a $5.00 price target for the company. Oppenheimer assumed coverage on Ovid Therapeutics in a report on Thursday, October 9th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, Roth Capital initiated coverage on Ovid Therapeutics in a research note on Thursday, December 11th. They set a “buy” rating and a $3.00 target price for the company.

Institutional Trading of Ovid Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in Ovid Therapeutics during the 3rd quarter worth approximately $33,000. Apollon Wealth Management LLC purchased a new position in shares of Ovid Therapeutics during the third quarter worth approximately $36,000. Persistent Asset Partners Ltd purchased a new position in shares of Ovid Therapeutics during the third quarter worth approximately $60,000. Integrated Wealth Concepts LLC acquired a new position in shares of Ovid Therapeutics in the 3rd quarter valued at $69,000. Finally, Bank of America Corp DE raised its position in Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after purchasing an additional 18,841 shares during the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.

Ovid Therapeutics Price Performance

OVID stock opened at $1.79 on Tuesday. The business’s 50-day moving average is $1.50 and its two-hundred day moving average is $1.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a market capitalization of $127.47 million, a P/E ratio of -3.58 and a beta of 0.04. Ovid Therapeutics has a 1 year low of $0.24 and a 1 year high of $2.01.

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

Ovid Therapeutics Company Profile

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.