Ovid Therapeutics (NASDAQ:OVID) Given Average Rating of “Moderate Buy” by Analysts

Ovid Therapeutics (NASDAQ:OVID) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.1250.

A number of equities research analysts have issued reports on OVID shares. Wall Street Zen cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. HC Wainwright upped their price target on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a report on Thursday, April 9th. BTIG Research restated a “buy” rating and set a $4.00 price target on shares of Ovid Therapeutics in a report on Thursday, March 26th. Roth Mkm restated a “buy” rating and set a $7.00 price target on shares of Ovid Therapeutics in a report on Thursday, May 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Tuesday, April 21st.

Ovid Therapeutics Stock Down 1.7%

OVID stock opened at $2.26 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17. Ovid Therapeutics has a 52-week low of $0.28 and a 52-week high of $3.11. The company has a 50-day moving average of $2.60 and a two-hundred day moving average of $2.05. The stock has a market capitalization of $421.81 million, a price-to-earnings ratio of -7.79 and a beta of 0.16.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 22.51%. As a group, equities research analysts anticipate that Ovid Therapeutics will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OVID. Janus Henderson Group PLC acquired a new position in shares of Ovid Therapeutics during the first quarter valued at about $23,732,000. RA Capital Management L.P. acquired a new position in shares of Ovid Therapeutics during the fourth quarter valued at about $17,464,000. Affinity Asset Advisors LLC raised its position in shares of Ovid Therapeutics by 169.8% during the fourth quarter. Affinity Asset Advisors LLC now owns 7,150,000 shares of the company’s stock valued at $11,654,000 after buying an additional 4,500,000 shares during the last quarter. Eventide Asset Management LLC acquired a new position in shares of Ovid Therapeutics during the fourth quarter valued at about $6,985,000. Finally, ADAR1 Capital Management LLC raised its position in shares of Ovid Therapeutics by 33,256.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 4,285,000 shares of the company’s stock valued at $6,985,000 after buying an additional 4,272,154 shares during the last quarter. Institutional investors and hedge funds 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.