Ovid Therapeutics (NASDAQ:OVID) Receives $3.88 Average PT from Analysts

Ovid Therapeutics (NASDAQ:OVID) has earned an average rating of “Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $3.8750.

A number of equities analysts have issued reports on OVID shares. Wall Street Zen downgraded Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Thursday, January 22nd. Roth Mkm started coverage on Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 target price for the company. Lifesci Capital started coverage on shares of Ovid Therapeutics in a research report on Monday, December 22nd. They set an “outperform” rating and a $4.00 price objective for the company. Finally, Leerink Partners began coverage on shares of Ovid Therapeutics in a report on Monday, November 17th. They set an “outperform” rating and a $5.00 price objective on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OVID. Assenagon Asset Management S.A. raised its holdings in shares of Ovid Therapeutics by 112.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock valued at $1,202,000 after buying an additional 488,956 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Ovid Therapeutics in the second quarter valued at approximately $53,000. Private Advisor Group LLC purchased a new stake in shares of Ovid Therapeutics during the third quarter valued at approximately $33,000. Integrated Wealth Concepts LLC acquired a new position in shares of Ovid Therapeutics during the third quarter worth $69,000. Finally, Rosalind Advisors Inc. purchased a new position in shares of Ovid Therapeutics in the second quarter valued at $165,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Trading Up 3.8%

NASDAQ OVID opened at $1.64 on Wednesday. Ovid Therapeutics has a one year low of $0.24 and a one year high of $2.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24. The company has a market capitalization of $116.78 million, a price-to-earnings ratio of -3.28 and a beta of 0.25. The company’s 50-day simple moving average is $1.63 and its two-hundred day simple moving average is $1.39.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $0.17 million. Equities analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

About Ovid Therapeutics

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.