Ovid Therapeutics (NASDAQ:OVID) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts have also recently commented on the stock. Leerink Partners assumed coverage on shares of Ovid Therapeutics in a research report on Monday, November 17th. They issued an “outperform” rating and a $5.00 price target on the stock. B. Riley reiterated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. Lifesci Capital began coverage on shares of Ovid Therapeutics in a research note on Monday, December 22nd. They set an “outperform” rating and a $4.00 target price for the company. Leerink Partnrs upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Monday, November 17th. Finally, Roth Capital assumed coverage on Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $3.88.

Ovid Therapeutics Stock Performance

OVID opened at $1.78 on Friday. The business has a 50 day moving average price of $1.52 and a two-hundred day moving average price of $1.11. 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 company has a market capitalization of $126.75 million, a price-to-earnings ratio of -3.56 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 posted its quarterly earnings data 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 during 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%. Research analysts predict that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC purchased a new stake in Ovid Therapeutics in the 3rd quarter worth about $33,000. Apollon Wealth Management LLC acquired a new position in shares of Ovid Therapeutics in the 3rd quarter valued at about $36,000. Nuveen LLC purchased a new stake in shares of Ovid Therapeutics in the first quarter worth approximately $37,000. Jane Street Group LLC acquired a new stake in shares of Ovid Therapeutics during the second quarter worth approximately $47,000. Finally, Velan Capital Investment Management LP boosted its holdings in shares of Ovid Therapeutics by 64.9% during the second quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock worth $53,000 after purchasing an additional 63,000 shares during the period. Hedge funds and other institutional investors own 72.24% of the company’s stock.

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.