Ovid Therapeutics (NASDAQ:OVID) Price Target Cut to $3.00

Ovid Therapeutics (NASDAQ:OVIDGet Free Report) had its price objective decreased by HC Wainwright from $9.00 to $3.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 280.76% from the stock’s current price.

Other analysts have also issued research reports about the company. B. Riley began coverage on Ovid Therapeutics in a report on Tuesday, April 30th. They set a “buy” rating and a $9.00 price target for the company. Citigroup cut their price target on Ovid Therapeutics from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Oppenheimer lowered Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Wedbush started coverage on Ovid Therapeutics in a research report on Friday, April 5th. They set an “outperform” rating and a $8.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.70.

Read Our Latest Stock Report on OVID

Ovid Therapeutics Stock Performance

Shares of OVID opened at $0.79 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.47 and a quick ratio of 10.47. Ovid Therapeutics has a one year low of $0.75 and a one year high of $4.14. The firm has a market capitalization of $55.89 million, a P/E ratio of -1.08 and a beta of 0.58. The business has a fifty day moving average of $2.98 and a 200 day moving average of $3.21.

Ovid Therapeutics (NASDAQ:OVIDGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. Ovid Therapeutics had a negative return on equity of 53.62% and a negative net margin of 10,691.14%. The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.11 million. As a group, sell-side analysts anticipate that Ovid Therapeutics will post -0.85 EPS for the current year.

Institutional Trading of Ovid Therapeutics

Several institutional investors have recently made changes to their positions in OVID. Price T Rowe Associates Inc. MD grew its holdings in Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after buying an additional 3,145 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Ovid Therapeutics by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after buying an additional 5,401 shares in the last quarter. Empowered Funds LLC grew its holdings in Ovid Therapeutics by 8.1% during the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after buying an additional 9,625 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ovid Therapeutics by 17.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock valued at $312,000 after buying an additional 11,926 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Ovid Therapeutics by 52.7% during the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock valued at $128,000 after buying an additional 13,728 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

(Get Free Report)

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.

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Analyst Recommendations for Ovid Therapeutics (NASDAQ:OVID)

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