Ovid Therapeutics (NASDAQ:OVID) Lowered to Sell Rating by Wall Street Zen

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

A number of other equities analysts have also issued reports on OVID. B. Riley reissued a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Wednesday, October 8th. Leerink Partners assumed coverage on Ovid Therapeutics in a report on Monday, November 17th. They issued an “outperform” rating and a $5.00 target price on the stock. Roth Capital assumed coverage on Ovid Therapeutics in a research note on Thursday, December 11th. They set a “buy” rating and a $3.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Ovid Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $3.88.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $1.57 on Friday. The company’s 50 day simple moving average is $1.57 and its 200-day simple moving average is $1.25. The firm has a market cap of $111.80 million, a PE ratio of -3.14 and a beta of 0.22. Ovid Therapeutics has a 12-month low of $0.24 and a 12-month 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.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results 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). The business had revenue of $0.13 million for the quarter, compared to analyst estimates of $0.17 million. Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%. As a group, equities analysts predict that Ovid Therapeutics will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of OVID. Vanguard Group Inc. grew its stake in shares of Ovid Therapeutics by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,820,813 shares of the company’s stock worth $3,667,000 after purchasing an additional 184,698 shares during the period. Acadian Asset Management LLC boosted its holdings 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 buying an additional 237,445 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Ovid Therapeutics by 112.2% during the third quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock worth $1,202,000 after buying an additional 488,956 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Ovid Therapeutics in the third quarter valued at about $1,148,000. Finally, Rosalind Advisors Inc. acquired a new stake in shares of Ovid Therapeutics during the 2nd quarter valued at approximately $165,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.