Brokerages Set Ovid Therapeutics (NASDAQ:OVID) PT at $5.71

Ovid Therapeutics (NASDAQ:OVID) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $5.7143.

Several research analysts have weighed in on the stock. Roth Capital restated a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. Oppenheimer lifted their price target on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research note on Tuesday, July 21st.

Institutional Trading of Ovid Therapeutics

Several large investors have recently bought and sold shares of OVID. Bank of America Corp DE raised its stake in shares of Ovid Therapeutics by 49.7% during the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after buying an additional 18,841 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Ovid Therapeutics by 12.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after buying an additional 237,445 shares in the last quarter. Marshall Wace LLP acquired a new stake in Ovid Therapeutics in the 2nd quarter valued at about $54,000. Jane Street Group LLC acquired a new stake in Ovid Therapeutics in the 2nd quarter valued at about $47,000. Finally, Rosalind Advisors Inc. purchased a new position in Ovid Therapeutics during the 2nd quarter valued at about $165,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $2.93 on Friday. The firm has a market capitalization of $572.23 million, a P/E ratio of -9.45 and a beta of 0.21. Ovid Therapeutics has a one year low of $1.12 and a one year high of $3.11. The company’s fifty day moving average is $2.57 and its two-hundred day moving average is $2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.39 and a current ratio of 12.39.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.64%. The business had revenue of $0.73 million for the quarter, compared to analysts’ expectations of $0.02 million. Analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Ovid Therapeutics Company Profile

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.