Ovid Therapeutics (NASDAQ:OVID) Lowered to “Sell” Rating by 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 sent to investors on Saturday.

Several other equities research analysts have also commented on the company. HC Wainwright upped their target price on Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Wedbush reiterated an “outperform” rating and issued a $7.00 target price on shares of Ovid Therapeutics in a report on Wednesday, April 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. B. Riley Financial restated a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday. Finally, Roth Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ovid Therapeutics in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ovid Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $5.12.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $2.33 on Friday. The company has a current ratio of 10.17, a quick ratio of 10.17 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $434.87 million, a P/E ratio of -8.03 and a beta of 0.18. The firm’s fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $2.22. Ovid Therapeutics has a 12 month low of $0.47 and a 12 month high of $3.11.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Ovid Therapeutics had a negative return on equity of 22.51% and a negative net margin of 240.11%. As a group, analysts predict that Ovid Therapeutics will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Large investors have recently modified their holdings of the company. Private Advisor Group LLC bought a new stake in Ovid Therapeutics during the 3rd quarter valued at $33,000. Jane Street Group LLC bought a new position in shares of Ovid Therapeutics in the second quarter valued at $47,000. Total Clarity Wealth Management Inc. bought a new position in shares of Ovid Therapeutics in the fourth quarter valued at $47,000. State of Wyoming bought a new position in shares of Ovid Therapeutics in the first quarter valued at $49,000. Finally, LPL Financial LLC grew its holdings in shares of Ovid Therapeutics by 150.0% during the fourth quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock valued at $49,000 after buying an additional 18,000 shares during the last quarter. 72.24% of the stock is currently owned by institutional investors.

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.