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

Shares of Ovid Therapeutics (NASDAQ:OVID) have received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $6.00.

A number of equities analysts have recently issued reports on OVID shares. Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. HC Wainwright upped their price objective on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. Oppenheimer increased their target price on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Roth Capital reissued a “buy” rating and set a $8.00 target price on shares of Ovid Therapeutics in a research report on Thursday, September 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $2.71 on Thursday. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $529.26 million, a P/E ratio of -8.74 and a beta of 0.24. Ovid Therapeutics has a 12 month low of $1.18 and a 12 month high of $3.11. The business’s 50-day moving average is $2.63 and its 200 day moving average is $2.53.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.04. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.64%. The business had revenue of $0.73 million during the quarter, compared to analyst estimates of $0.02 million. On average, equities research analysts forecast that Ovid Therapeutics will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Ovid Therapeutics during the second quarter worth about $29,115,000. Ally Bridge Group NY LLC increased its holdings in Ovid Therapeutics by 57.9% in the 1st quarter. Ally Bridge Group NY LLC now owns 2,818,459 shares of the company’s stock worth $6,257,000 after buying an additional 1,033,459 shares during the period. Braidwell LP purchased a new position in Ovid Therapeutics during the 2nd quarter worth approximately $15,923,000. Jupiter Topco LLC purchased a new position in Ovid Therapeutics during the 2nd quarter worth approximately $55,898,000. Finally, ADAR1 Capital Management LLC purchased a new position in Ovid Therapeutics during the 2nd quarter worth approximately $19,953,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare epileptic disorders and other diseases of the brain. The company’s research programs are designed to address significant unmet needs in patients with severe neurological conditions, including developmental and epileptic encephalopathies.

Ovid has developed a pipeline of investigational therapies targeting the underlying biology of epilepsy and related neurological disorders. Its programs have included soticlestat, an investigational treatment studied in rare epilepsies such as Dravet syndrome and Lennox-Gastaut syndrome, as well as earlier-stage compounds aimed at modulating neurotransmission and reducing seizure activity.

Founded in 2014 and headquartered in New York, Ovid has advanced its programs through collaborations with larger pharmaceutical companies, including a collaboration with Takeda Pharmaceutical Company involving soticlestat.