Ovid Therapeutics (NASDAQ:OVID) Given Consensus Recommendation of “Buy” by Analysts

Shares of Ovid Therapeutics (NASDAQ:OVID) have been given an average rating of “Buy” by the ten analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.3750.

OVID has been the topic of a number of research analyst reports. Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Lifesci Capital initiated coverage on Ovid Therapeutics in a research report on Monday, December 22nd. They set an “outperform” rating and a $4.00 price target on the stock. BTIG Research reissued a “buy” rating and issued a $4.00 price objective on shares of Ovid Therapeutics in a research note on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Thursday, January 22nd. Finally, Roth Mkm started coverage on Ovid Therapeutics in a research note on Thursday, December 11th. They set a “buy” rating and a $3.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its stake in Ovid Therapeutics by 150.0% in the 4th 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 period. Bank of America Corp DE boosted 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. Benin Management CORP purchased a new position in shares of Ovid Therapeutics during the 4th quarter valued at $31,000. Geode Capital Management LLC grew its holdings in shares of Ovid Therapeutics by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 672,004 shares of the company’s stock valued at $1,096,000 after acquiring an additional 23,984 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of Ovid Therapeutics in the third quarter worth $33,000. 72.24% of the stock is owned by hedge funds and other institutional investors.

Ovid Therapeutics Trading Down 8.3%

Ovid Therapeutics stock opened at $2.11 on Thursday. The company has a 50 day moving average price of $1.80 and a 200 day moving average price of $1.62. Ovid Therapeutics has a 52 week low of $0.24 and a 52 week high of $2.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 8.97 and a current ratio of 8.97. The firm has a market capitalization of $278.27 million, a price-to-earnings ratio of -6.81 and a beta of 0.25.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.06 million. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.98%. Research analysts forecast that Ovid Therapeutics will post -0.4 EPS 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.