Ovid Therapeutics (NASDAQ:OVID) Receives $3.88 Consensus PT from Analysts

Shares of Ovid Therapeutics (NASDAQ:OVID) have received a consensus rating of “Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $3.8750.

OVID has been the topic of a number of recent analyst reports. B. Riley reiterated a “buy” rating on shares of Ovid Therapeutics in a research note on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Wednesday, October 8th. Leerink Partners started coverage on Ovid Therapeutics in a report on Monday, November 17th. They issued an “outperform” rating and a $5.00 price target for the company. Leerink Partnrs upgraded Ovid Therapeutics to a “strong-buy” rating in a research note on Monday, November 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $2.00 price objective on shares of Ovid Therapeutics in a research report on Monday, December 22nd.

Institutional Trading of Ovid Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Benin Management CORP acquired a new position in Ovid Therapeutics during the fourth quarter worth about $31,000. Private Advisor Group LLC purchased a new position in Ovid Therapeutics in the 3rd quarter valued at approximately $33,000. Apollon Wealth Management LLC acquired a new position in Ovid Therapeutics during the third quarter worth $36,000. Persistent Asset Partners Ltd purchased a new stake in Ovid Therapeutics during the third quarter worth $60,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Ovid Therapeutics in the third quarter valued at $69,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Trading Down 3.6%

Shares of OVID stock opened at $1.61 on Friday. Ovid Therapeutics has a twelve month low of $0.24 and a twelve month high of $2.01. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $1.55 and its two-hundred day moving average is $1.22. The company has a market capitalization of $114.65 million, a P/E ratio of -3.22 and a beta of 0.22.

Ovid Therapeutics (NASDAQ:OVID) last issued 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). The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $0.17 million. Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%. Equities analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current year.

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.