Ovid Therapeutics (NASDAQ:OVID) Receives Average Rating of “Buy” from Analysts

Ovid Therapeutics (NASDAQ:OVID) has received an average rating of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $3.8750.

Several equities research analysts have recently weighed in on OVID shares. HC Wainwright reissued a “buy” rating and issued a $2.00 price objective on shares of Ovid Therapeutics in a report on Monday, December 22nd. Leerink Partners initiated coverage on shares of Ovid Therapeutics in a research report on Monday, November 17th. They issued an “outperform” rating and a $5.00 price target for the company. Leerink Partnrs raised shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Monday, November 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OVID. Benin Management CORP acquired a new position in shares of Ovid Therapeutics in the fourth quarter valued at approximately $31,000. Private Advisor Group LLC purchased a new position in Ovid Therapeutics in the 3rd quarter valued at $33,000. Apollon Wealth Management LLC purchased a new position in Ovid Therapeutics in the 3rd quarter valued at $36,000. Persistent Asset Partners Ltd acquired a new position in Ovid Therapeutics in the 3rd quarter valued at $60,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Ovid Therapeutics during the 3rd quarter worth $69,000. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $1.57 on Friday. The stock’s 50-day moving average is $1.57 and its two-hundred day moving average is $1.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24. Ovid Therapeutics has a 1 year low of $0.24 and a 1 year high of $2.01. The firm has a market cap of $111.80 million, a price-to-earnings ratio of -3.14 and a beta of 0.22.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Wednesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $0.17 million. Ovid Therapeutics had a negative net margin of 550.04% and a negative return on equity of 63.79%. Analysts predict that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Ovid Therapeutics Company Profile

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.