Ovid Therapeutics (NASDAQ:OVID) Upgraded 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 released on Saturday morning.

Several other analysts also recently issued reports on the company. Wedbush raised their price target on Ovid Therapeutics from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Friday. Lifesci Capital started coverage on Ovid Therapeutics in a research report on Monday, December 22nd. They issued an “outperform” rating and a $4.00 target price on the stock. Roth Mkm started coverage on Ovid Therapeutics in a research note on Thursday, December 11th. They issued a “buy” rating and a $3.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $2.00 price target on shares of Ovid Therapeutics in a report on Monday, December 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $4.43.

Ovid Therapeutics Price Performance

Shares of NASDAQ:OVID opened at $2.55 on Friday. The company has a market cap of $181.59 million, a PE ratio of -8.23 and a beta of 0.25. Ovid Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $2.72. The firm has a 50-day simple moving average of $1.72 and a 200 day simple moving average of $1.58. The company has a quick ratio of 8.97, a current ratio of 8.97 and a debt-to-equity ratio of 0.09.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Wednesday, March 18th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.06 million. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.98%. On average, sell-side analysts anticipate that Ovid Therapeutics will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of institutional investors have recently added to or reduced their stakes in OVID. Benin Management CORP acquired a new position in shares of Ovid Therapeutics during the 4th quarter valued at $31,000. Private Advisor Group LLC acquired a new stake in shares of Ovid Therapeutics in the third quarter valued at $33,000. Apollon Wealth Management LLC acquired a new stake in shares of Ovid Therapeutics in the third quarter valued at $36,000. Total Clarity Wealth Management Inc. bought a new position in Ovid Therapeutics during the fourth quarter valued at about $47,000. Finally, Jane Street Group LLC bought a new position in Ovid Therapeutics during the second quarter valued at about $47,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.