Ovid Therapeutics (NASDAQ:OVID) Earns Outperform Rating from Analysts at Lifesci Capital

Equities researchers at Lifesci Capital began coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $4.00 price target on the stock. Lifesci Capital’s price objective would suggest a potential upside of 131.88% from the company’s current price.

Several other research firms have also weighed in on OVID. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Wednesday, October 8th. B. Riley reiterated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. Oppenheimer assumed coverage on shares of Ovid Therapeutics in a research note on Thursday, October 9th. They set an “outperform” rating and a $7.00 price objective on the stock. Wall Street Zen lowered Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Roth Capital initiated coverage on shares of Ovid Therapeutics in a research note on Thursday, December 11th. They set a “buy” rating and a $3.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ovid Therapeutics presently has an average rating of “Buy” and an average target price of $3.88.

Ovid Therapeutics Price Performance

Shares of Ovid Therapeutics stock traded up $0.26 during trading hours on Monday, hitting $1.73. The company’s stock had a trading volume of 1,139,318 shares, compared to its average volume of 1,518,093. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24. Ovid Therapeutics has a 12-month low of $0.24 and a 12-month high of $2.01. The business has a 50 day moving average price of $1.50 and a two-hundred day moving average price of $1.06. The company has a market cap of $122.84 million, a PE ratio of -3.49 and a beta of 0.04.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%.The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.17 million. Analysts expect that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Ovid Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Parkman Healthcare Partners LLC purchased a new stake in shares of Ovid Therapeutics during the 3rd quarter worth approximately $264,000. Integrated Wealth Concepts LLC purchased a new position in Ovid Therapeutics in the third quarter valued at about $69,000. Bank of America Corp DE increased its position in shares of Ovid Therapeutics by 2,333.0% in the third quarter. Bank of America Corp DE now owns 362,707 shares of the company’s stock valued at $472,000 after buying an additional 347,799 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Ovid Therapeutics during the 3rd quarter worth approximately $633,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Ovid Therapeutics in the 3rd quarter valued at about $1,148,000. 72.24% of the stock is owned by institutional investors and hedge funds.

About Ovid Therapeutics

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.