Ovid Therapeutics (NASDAQ:OVID) Cut to “Sell” at Wall Street Zen

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

OVID has been the subject of a number of other research reports. B. Riley restated a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Wednesday, October 8th. Finally, Oppenheimer started coverage on Ovid Therapeutics in a report on Thursday, October 9th. They set an “outperform” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.92.

Ovid Therapeutics Price Performance

Shares of OVID stock opened at $1.30 on Friday. Ovid Therapeutics has a 1 year low of $0.24 and a 1 year high of $2.01. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $1.44 and its 200-day moving average is $0.85. The firm has a market capitalization of $92.57 million, a price-to-earnings ratio of -2.60 and a beta of 0.31.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.17 million. Sell-side analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC acquired a new position in Ovid Therapeutics in the third quarter valued at about $1,148,000. Affinity Asset Advisors LLC bought a new stake in shares of Ovid Therapeutics in the 1st quarter valued at about $208,000. Rosalind Advisors Inc. acquired a new stake in shares of Ovid Therapeutics in the 2nd quarter valued at approximately $165,000. Assenagon Asset Management S.A. raised its position in shares of Ovid Therapeutics by 112.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock valued at $1,202,000 after acquiring an additional 488,956 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in Ovid Therapeutics during the 3rd quarter worth approximately $633,000. Institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

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.