Brokerages Set Ovid Therapeutics (NASDAQ:OVID) Price Target at $3.88

Ovid Therapeutics (NASDAQ:OVID) has been given a consensus recommendation of “Buy” by the ten research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $3.8750.

OVID has been the subject of a number of recent analyst reports. Leerink Partners began coverage on Ovid Therapeutics in a report on Monday, November 17th. They issued an “outperform” rating and a $5.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $2.00 price target on shares of Ovid Therapeutics in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Thursday, January 22nd. Roth Mkm started coverage on shares of Ovid Therapeutics in a research note on Thursday, December 11th. They set a “buy” rating and a $3.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th.

Institutional Trading of Ovid Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of OVID. Benin Management CORP bought a new position in Ovid Therapeutics during the fourth quarter valued at about $31,000. Private Advisor Group LLC bought a new stake in shares of Ovid Therapeutics in the 3rd quarter worth approximately $33,000. Apollon Wealth Management LLC acquired a new stake in Ovid Therapeutics during the third quarter valued at approximately $36,000. Jane Street Group LLC bought a new stake in Ovid Therapeutics during the second quarter worth approximately $47,000. Finally, Total Clarity Wealth Management Inc. acquired a new position in Ovid Therapeutics in the fourth quarter worth approximately $47,000. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

NASDAQ OVID opened at $1.91 on Friday. The company has a 50-day moving average price of $1.61 and a two-hundred day moving average price of $1.50. Ovid Therapeutics has a 52 week low of $0.24 and a 52 week high of $2.01. The stock has a market cap of $136.01 million, a price-to-earnings ratio of -3.82 and a beta of 0.25. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.28.

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.