Brokerages Set Ovid Therapeutics (NASDAQ:OVID) PT at $3.86

Shares of Ovid Therapeutics (NASDAQ:OVID) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $3.8571.

Several research firms have commented on OVID. Wall Street Zen cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Roth Capital assumed coverage on Ovid Therapeutics in a research note on Thursday, December 11th. They issued a “buy” rating and a $3.00 target price for the company. Leerink Partners assumed coverage on Ovid Therapeutics in a research report on Monday, November 17th. They set an “outperform” rating and a $5.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Wednesday, October 8th. Finally, HC Wainwright upped their price objective on shares of Ovid Therapeutics from $1.50 to $2.00 and gave the company a “buy” rating in a research note on Monday, November 24th.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $1.34 on Tuesday. Ovid Therapeutics has a 12-month low of $0.24 and a 12-month high of $2.01. The firm has a market cap of $95.42 million, a price-to-earnings ratio of -2.68 and a beta of 0.04. The company’s 50-day moving average is $1.50 and its two-hundred day moving average is $1.04. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.28.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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 expect that Ovid Therapeutics will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

A number of hedge funds have recently made changes to their positions in OVID. Bank of America Corp DE grew its stake in shares of Ovid Therapeutics by 49.7% during the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after buying an additional 18,841 shares during the period. Nuveen LLC acquired a new position in Ovid Therapeutics in the first quarter valued at $37,000. Affinity Asset Advisors LLC purchased a new stake in Ovid Therapeutics during the first quarter valued at about $208,000. Adage Capital Partners GP L.L.C. grew its position in Ovid Therapeutics by 15.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $359,000 after acquiring an additional 150,000 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Ovid Therapeutics by 12.8% during the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after acquiring an additional 237,445 shares during the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

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.