Ovid Therapeutics (NASDAQ:OVID) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities research analysts have also issued research reports about the stock. Roth Capital assumed coverage on shares of Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price target for the company. Leerink Partners began coverage on shares of Ovid Therapeutics in a research note on Monday, November 17th. They set an “outperform” rating and a $5.00 target price for the company. B. Riley reaffirmed 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 report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $2.00 price objective on shares of Ovid Therapeutics in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $3.88.

Ovid Therapeutics Price Performance

Shares of Ovid Therapeutics stock opened at $1.65 on Friday. The firm has a market cap of $117.50 million, a PE ratio of -3.30 and a beta of 0.04. Ovid Therapeutics has a twelve month low of $0.24 and a twelve month high of $2.01. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.12.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OVID. Private Advisor Group LLC purchased a new stake in shares of Ovid Therapeutics in the third quarter valued at approximately $33,000. Apollon Wealth Management LLC acquired a new position in Ovid Therapeutics during the third quarter worth $36,000. Nuveen LLC purchased a new stake in Ovid Therapeutics in the 1st quarter valued at $37,000. Jane Street Group LLC purchased a new stake in Ovid Therapeutics in the 2nd quarter valued at $47,000. Finally, Velan Capital Investment Management LP increased its stake in shares of Ovid Therapeutics by 64.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock worth $53,000 after acquiring an additional 63,000 shares during the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.

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.