Ovid Therapeutics (NASDAQ:OVID) Receives $6.00 Consensus Target Price from Analysts

Ovid Therapeutics (NASDAQ:OVID) has been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $6.00.

OVID has been the subject of several research analyst reports. Roth Capital reaffirmed a “buy” rating and set a $8.00 target price on shares of Ovid Therapeutics in a research note on Thursday, September 3rd. Oppenheimer lifted their target price on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th. B. Riley Financial reissued a “buy” rating on shares of Ovid Therapeutics in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th.

Institutional Trading of Ovid Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in OVID. Legal & General Group Plc purchased a new stake in Ovid Therapeutics in the 2nd quarter valued at about $40,000. E Fund Management Co. Ltd. purchased a new position in shares of Ovid Therapeutics during the second quarter worth $52,000. Sovereign Financial Group Inc. boosted its position in shares of Ovid Therapeutics by 200.0% during the first quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company’s stock worth $67,000 after buying an additional 20,000 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Ovid Therapeutics in the second quarter valued at $54,000. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Ovid Therapeutics in the 2nd quarter valued at $57,297. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Stock Down 0.4%

OVID stock opened at $2.69 on Thursday. Ovid Therapeutics has a 12 month low of $1.16 and a 12 month high of $3.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.39 and a quick ratio of 12.39. The company has a market capitalization of $525.36 million, a P/E ratio of -8.68 and a beta of 0.24. The firm’s fifty day simple moving average is $2.63 and its 200-day simple moving average is $2.52.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. Ovid Therapeutics had a negative return on equity of 23.64% and a negative net margin of 240.11%.The company had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.02 million. As a group, equities research analysts forecast that Ovid Therapeutics will post -0.37 earnings per share for the current year.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare epileptic disorders and other diseases of the brain. The company’s research programs are designed to address significant unmet needs in patients with severe neurological conditions, including developmental and epileptic encephalopathies.

Ovid has developed a pipeline of investigational therapies targeting the underlying biology of epilepsy and related neurological disorders. Its programs have included soticlestat, an investigational treatment studied in rare epilepsies such as Dravet syndrome and Lennox-Gastaut syndrome, as well as earlier-stage compounds aimed at modulating neurotransmission and reducing seizure activity.

Founded in 2014 and headquartered in New York, Ovid has advanced its programs through collaborations with larger pharmaceutical companies, including a collaboration with Takeda Pharmaceutical Company involving soticlestat.