Zacks Investment Research downgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a buy rating to a hold rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Ovid Therapeutics Inc. is a biopharmaceutical company. It engaged in developing therapies for patients with rare neurological disorders. The company’s product pipeline consists of OV101, is currently in development for the treatment of symptoms of Angelman syndrome and Fragile X syndrome. It also involved in developing OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare epileptic encephalopathies. Ovid Therapeutics Inc. is based in New York, United States. “

Other equities analysts have also issued research reports about the stock. LADENBURG THALM/SH SH set a $27.00 price target on shares of Ovid Therapeutics and gave the company a buy rating in a report on Friday, March 8th. Cantor Fitzgerald set a $10.00 price objective on shares of Ovid Therapeutics and gave the company a buy rating in a research report on Monday, December 17th. JMP Securities cut their price objective on shares of Ovid Therapeutics from $26.00 to $11.00 and set an outperform rating on the stock in a research report on Friday, March 8th. Finally, Piper Jaffray Companies cut their price objective on shares of Ovid Therapeutics to $14.00 and set an overweight rating on the stock in a research report on Sunday, March 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $12.80.

Shares of OVID stock opened at $1.83 on Friday. Ovid Therapeutics has a 12-month low of $1.66 and a 12-month high of $11.45. The firm has a market capitalization of $71.11 million, a PE ratio of -0.87 and a beta of 1.96.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.03. Sell-side analysts expect that Ovid Therapeutics will post -1.89 earnings per share for the current fiscal year.

In related news, CEO Jeremy M. Levin acquired 75,000 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were acquired at an average cost of $2.00 per share, with a total value of $150,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 43.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of OVID. Dimensional Fund Advisors LP bought a new stake in Ovid Therapeutics in the 3rd quarter valued at $444,000. Two Sigma Investments LP bought a new stake in Ovid Therapeutics in the 4th quarter valued at $114,000. JPMorgan Chase & Co. lifted its position in Ovid Therapeutics by 136.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 54,832 shares of the company’s stock valued at $311,000 after acquiring an additional 31,687 shares in the last quarter. SG Americas Securities LLC bought a new stake in Ovid Therapeutics during the 4th quarter worth about $46,000. Finally, Geode Capital Management LLC lifted its position in Ovid Therapeutics by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock worth $231,000 after buying an additional 6,391 shares in the last quarter. 17.69% of the stock is currently owned by institutional investors and hedge funds.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

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