Ovid Therapeutics (NASDAQ:OVID) Raised to Hold at Wall Street Zen

Ovid Therapeutics (NASDAQ:OVID) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other equities analysts have also recently issued reports on OVID. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Wednesday, October 8th. Roth Capital started coverage on Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $2.00 price target on shares of Ovid Therapeutics in a research note on Monday, December 22nd. Oppenheimer assumed coverage on Ovid Therapeutics in a report on Thursday, October 9th. They set an “outperform” rating and a $7.00 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 stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $3.88.

Ovid Therapeutics Price Performance

Shares of NASDAQ:OVID opened at $1.78 on Friday. The stock has a market cap of $126.75 million, a P/E ratio of -3.56 and a beta of 0.04. The firm has a fifty day moving average price of $1.52 and a 200 day moving average price of $1.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.24 and a quick ratio of 4.24. Ovid Therapeutics has a 1-year low of $0.24 and a 1-year high of $2.01.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OVID. Assenagon Asset Management S.A. lifted its holdings in Ovid Therapeutics by 112.2% in the third quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock valued at $1,202,000 after acquiring an additional 488,956 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Ovid Therapeutics during the 2nd quarter worth $53,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Ovid Therapeutics by 15.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $359,000 after purchasing an additional 150,000 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Ovid Therapeutics in the first quarter valued at about $37,000. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of Ovid Therapeutics in the third quarter valued at about $264,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

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.