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.
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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