Ovid Therapeutics (NASDAQ:OVID) Stock Now Rated “Buy” by Wall Street Analysts

Ovid Therapeutics (NASDAQ:OVID) has received a consensus rating of “Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several equities analysts have commented on OVID shares. Cantor Fitzgerald initiated coverage on Ovid Therapeutics in a report on Friday, October 9th. They set an “overweight” rating on the stock. UBS Group reiterated a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, September 11th. Guggenheim assumed coverage on shares of Ovid Therapeutics in a research note on Tuesday, October 6th. They issued a “buy” rating and a $7.00 price target on the stock. Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Oppenheimer upped their target price on Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd.

Institutional Investors Weigh In On Ovid Therapeutics

A number of institutional investors have recently modified their holdings of OVID. Legal & General Group Plc acquired a new position in shares of Ovid Therapeutics in the second quarter valued at approximately $40,000. State of Wyoming bought a new position in Ovid Therapeutics during the first quarter worth $49,000. E Fund Management Co. Ltd. acquired a new position in shares of Ovid Therapeutics during the second quarter worth approximately $52,000. Focus Partners Advisor Solutions LLC bought a new position in Ovid Therapeutics in the 2nd quarter valued at $54,000. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Ovid Therapeutics during the 2nd quarter valued at approximately $57,297. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Stock Performance

NASDAQ:OVID opened at $2.15 on Monday. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05. Ovid Therapeutics has a one year low of $1.18 and a one year high of $3.11. The business’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $2.56.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.04. The firm had revenue of $0.73 million for the quarter, compared to the consensus estimate of $0.02 million. Research analysts forecast that Ovid Therapeutics will post -0.37 earnings per share for the current year.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare neurological disorders, including epilepsies and neurodevelopmental conditions. The company’s research programs are designed to address diseases with significant unmet medical needs and limited treatment options.

Ovid has developed a pipeline of investigational therapies targeting the underlying biology of neurological disorders. Its programs have included treatments for seizure disorders such as Dravet syndrome and Lennox-Gastaut syndrome, as well as potential therapies for other rare epileptic and neurodevelopmental conditions.