Ovid Therapeutics Inc (NASDAQ:OVID) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Ovid Therapeutics Inc (NASDAQ:OVID) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.50.

Separately, Zacks Investment Research downgraded Ovid Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd.

Shares of NASDAQ OVID traded up $0.01 during mid-day trading on Wednesday, hitting $1.64. The stock had a trading volume of 163,800 shares, compared to its average volume of 415,941. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.78. Ovid Therapeutics has a twelve month low of $1.53 and a twelve month high of $11.45. The company has a market cap of $63.46 million, a price-to-earnings ratio of -0.78 and a beta of 2.12.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Tuesday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Research analysts expect that Ovid Therapeutics will post -1.84 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OVID. BVF Inc. IL acquired a new position in shares of Ovid Therapeutics in the 1st quarter valued at $5,829,000. Renaissance Technologies LLC increased its position in shares of Ovid Therapeutics by 559.2% in the 1st quarter. Renaissance Technologies LLC now owns 363,217 shares of the company’s stock valued at $643,000 after acquiring an additional 308,117 shares during the period. Wells Fargo & Company MN increased its position in shares of Ovid Therapeutics by 4,451.2% in the 1st quarter. Wells Fargo & Company MN now owns 313,986 shares of the company’s stock valued at $556,000 after acquiring an additional 307,087 shares during the period. AWH Capital L.P. acquired a new position in shares of Ovid Therapeutics in the 1st quarter valued at $407,000. Finally, Acadian Asset Management LLC increased its position in shares of Ovid Therapeutics by 445.6% in the 1st quarter. Acadian Asset Management LLC now owns 153,898 shares of the company’s stock valued at $272,000 after acquiring an additional 125,690 shares during the period. 31.73% of the stock is currently owned by hedge funds and other institutional investors.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate, which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

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Analyst Recommendations for Ovid Therapeutics (NASDAQ:OVID)

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