Ovid Therapeutics (NASDAQ:OVID) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Ovid Therapeutics (NASDAQ:OVID) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $5.1250.

Several brokerages recently commented on OVID. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th. HC Wainwright raised their price objective on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Wedbush restated an “outperform” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Wednesday, April 15th. B. Riley Financial restated a “buy” rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Finally, Roth Capital reaffirmed a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research note on Thursday, May 14th.

Ovid Therapeutics Price Performance

NASDAQ OVID opened at $2.22 on Wednesday. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $2.45 and a two-hundred day moving average of $2.24. The firm has a market capitalization of $414.34 million, a price-to-earnings ratio of -7.66 and a beta of 0.21. Ovid Therapeutics has a 52 week low of $0.47 and a 52 week high of $3.11.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share 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%. On average, analysts predict that Ovid Therapeutics will post -0.5 earnings per share for the current year.

Institutional Trading of Ovid Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC purchased a new stake in shares of Ovid Therapeutics during the third quarter valued at $33,000. Jane Street Group LLC purchased a new position in Ovid Therapeutics in the 2nd quarter worth about $47,000. Total Clarity Wealth Management Inc. bought a new stake in Ovid Therapeutics during the 4th quarter valued at about $47,000. State of Wyoming bought a new stake in Ovid Therapeutics during the 1st quarter valued at about $49,000. Finally, LPL Financial LLC boosted its position 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. 72.24% of the stock is currently owned by institutional investors.

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.