Zacks Investment Research Lowers Ovid Therapeutics (NASDAQ:OVID) to Hold

Ovid Therapeutics (NASDAQ:OVID) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, January 11th.

According to Zacks, “Ovid Therapeutics Inc. is a biopharmaceutical company. It engaged in developing therapies for patients with rare neurological disorders. The company’s product pipeline consists of OV101, is currently in development for the treatment of symptoms of Angelman syndrome and Fragile X syndrome. It also involved in developing OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare epileptic encephalopathies. Ovid Therapeutics Inc. is based in New York, United States. “

Separately, ValuEngine raised shares of Ovid Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.33.

Shares of Ovid Therapeutics (OVID) traded down $0.43 during trading on Thursday, hitting $8.40. 27,173 shares of the company traded hands, compared to its average volume of 66,921. Ovid Therapeutics has a one year low of $5.28 and a one year high of $15.93.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.16. analysts forecast that Ovid Therapeutics will post -4.08 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in shares of Ovid Therapeutics in the second quarter worth $135,000. TIAA CREF Investment Management LLC bought a new stake in shares of Ovid Therapeutics in the second quarter worth $142,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Ovid Therapeutics in the second quarter worth $153,000. OxFORD Asset Management LLP bought a new stake in Ovid Therapeutics during the second quarter valued at $189,000. Finally, Citadel Advisors LLC bought a new stake in Ovid Therapeutics during the second quarter valued at $204,000. 29.38% of the stock is currently owned by institutional investors.

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Ovid Therapeutics Company Profile

Ovid Therapeutics Inc (Ovid) is a biopharmaceutical company. The Company is engaged in developing medicines for patients and families living with rare neurological disorders. Its lead drug candidate is OV101. The Company’s second lead drug candidate is OV935. OV101 (gaboxadol) is a delta-selective GABAA receptor agonist.

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