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

Share on StockTwits

Ovid Therapeutics (NASDAQ:OVID) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday, Zacks.com reports.

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. “

A number of other analysts have also recently commented on the stock. ValuEngine cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Cowen reiterated a “buy” rating on shares of Ovid Therapeutics in a research note on Monday, November 11th. Finally, William Blair reiterated a “buy” rating on shares of Ovid Therapeutics in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $13.13.

OVID stock opened at $3.82 on Friday. The firm has a 50 day moving average of $3.88 and a 200 day moving average of $3.00. The stock has a market capitalization of $197.48 million, a PE ratio of -2.18 and a beta of 2.85. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.01. Ovid Therapeutics has a 52 week low of $1.53 and a 52 week high of $5.24.

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC acquired a new stake in Ovid Therapeutics in the 3rd quarter worth approximately $56,000. Alpine Global Management LLC acquired a new stake in Ovid Therapeutics in the 4th quarter worth approximately $69,000. Charles Schwab Investment Management Inc. acquired a new stake in Ovid Therapeutics during the 4th quarter valued at approximately $78,000. Tower Research Capital LLC TRC acquired a new stake in Ovid Therapeutics during the 4th quarter valued at approximately $79,000. Finally, Virtu Financial LLC acquired a new stake in Ovid Therapeutics during the 3rd quarter valued at approximately $80,000. Institutional investors own 17.34% of the company’s stock.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate, which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

See Also: Certificate of Deposit (CD) For Risk Adverse Investors?

Get a free copy of the Zacks research report on Ovid Therapeutics (OVID)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ovid Therapeutics (NASDAQ:OVID)

Receive News & Ratings for Ovid Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovid Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.