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

Ovid Therapeutics (NASDAQ:OVID) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $3.10.

Several equities research analysts recently issued reports on OVID shares. B. Riley reiterated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a report on Friday, August 8th. Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Saturday, September 27th.

Ovid Therapeutics Price Performance

Ovid Therapeutics stock opened at $1.79 on Thursday. The stock has a market capitalization of $127.29 million, a P/E ratio of -3.38 and a beta of 0.35. The company’s fifty day moving average price is $1.09 and its 200 day moving average price is $0.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.72 and a current ratio of 4.72. Ovid Therapeutics has a 1 year low of $0.24 and a 1 year high of $2.01.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.10. The business had revenue of $6.27 million for the quarter, compared to the consensus estimate of $0.09 million. Ovid Therapeutics had a negative net margin of 574.44% and a negative return on equity of 58.87%. As a group, equities research analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ovid Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Affinity Asset Advisors LLC purchased a new stake in Ovid Therapeutics during the 1st quarter valued at about $208,000. Rosalind Advisors Inc. purchased a new stake in shares of Ovid Therapeutics in the second quarter valued at approximately $165,000. Assenagon Asset Management S.A. grew its position in shares of Ovid Therapeutics by 699.9% in the first quarter. Assenagon Asset Management S.A. now owns 560,830 shares of the company’s stock valued at $175,000 after purchasing an additional 490,716 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Ovid Therapeutics by 12.8% in the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock valued at $650,000 after purchasing an additional 237,445 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Ovid Therapeutics during the second quarter worth approximately $54,000. 72.24% of the stock is owned by hedge funds and other institutional investors.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.