Ovid Therapeutics (NASDAQ:OVID) Stock Has Average Price Target of $6.00 According to Brokerages

Ovid Therapeutics (NASDAQ:OVID) has been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.00.

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Thursday, October 15th. HC Wainwright lifted their price target on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Wolfe Research assumed coverage on Ovid Therapeutics in a research note on Thursday, October 15th. They issued an “outperform” rating and a $5.00 price objective for the company. Oppenheimer raised their target price on Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Finally, UBS Group reiterated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, September 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OVID. StoneX Group Inc. acquired a new stake in Ovid Therapeutics in the third quarter valued at $51,000. Spark Investment Management LLC acquired a new position in shares of Ovid Therapeutics in the second quarter worth $86,000. Braidwell LP acquired a new position in shares of Ovid Therapeutics in the second quarter worth $15,923,000. Two Sigma Securities LLC boosted its stake in shares of Ovid Therapeutics by 182.3% during the second quarter. Two Sigma Securities LLC now owns 71,487 shares of the company’s stock valued at $192,000 after acquiring an additional 46,163 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Ovid Therapeutics during the second quarter valued at $278,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Stock Down 1.8%

Shares of NASDAQ:OVID opened at $2.80 on Friday. The company has a market cap of $546.83 million, a price-to-earnings ratio of -9.03 and a beta of 0.24. Ovid Therapeutics has a 12 month low of $1.18 and a 12 month high of $3.11. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $2.51 and a 200 day moving average price of $2.39.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Tuesday, November 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). As a group, equities research analysts predict 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 epilepsies and other disorders of the central nervous system. The company’s research has concentrated on conditions with significant unmet medical needs, including rare epileptic and neurodevelopmental disorders. Ovid’s pipeline has included soticlestat, an investigational therapy developed in collaboration with Takeda Pharmaceutical Company for developmental and epileptic encephalopathies such as Dravet syndrome and Lennox-Gastaut syndrome.