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

Ovid Therapeutics Inc. (NASDAQ:OVID) has earned a consensus recommendation of “Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.69.

Several research analysts recently commented on the stock. Royal Bank of Canada downgraded shares of Ovid Therapeutics from an “outperform” rating to a “sector perform” rating and set a $5.00 target price on the stock. in a research note on Wednesday, March 3rd. UBS Group boosted their price objective on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, March 4th. Finally, Zacks Investment Research raised shares of Ovid Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research report on Tuesday, March 9th.

Shares of NASDAQ OVID opened at $3.69 on Friday. Ovid Therapeutics has a 52 week low of $2.25 and a 52 week high of $9.40. The firm’s fifty day moving average is $3.85 and its 200 day moving average is $4.11. The company has a market cap of $242.63 million, a price-to-earnings ratio of -2.62 and a beta of 1.86.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Sunday, March 14th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). As a group, equities analysts predict that Ovid Therapeutics will post -1.33 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd grew its position in shares of Ovid Therapeutics by 1,372.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 4,771 shares of the company’s stock worth $27,000 after buying an additional 4,447 shares during the period. Tudor Investment Corp Et Al purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth about $32,000. Credit Suisse AG purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth about $33,000. ProShare Advisors LLC purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth about $47,000. Finally, JPMorgan Chase & Co. grew its position in shares of Ovid Therapeutics by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 21,064 shares of the company’s stock worth $49,000 after buying an additional 5,104 shares during the period. 39.59% of the stock is currently owned by hedge funds and other institutional investors.

Ovid Therapeutics Company Profile

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 is in Phase III clinical trial for the treatment of angelman syndrome in adults; and completed Phase II clinical trial for the treatment of fragile X syndrome in adolescent and young male adults.

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Analyst Recommendations for Ovid Therapeutics (NASDAQ:OVID)

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