Ovid Therapeutics Inc. (NASDAQ:OVID) Given Average Rating of “Buy” by Analysts

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have earned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.03.

Several research firms have recently weighed in on OVID. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. Oppenheimer raised shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target for the company in a research note on Wednesday, January 29th.

Ovid Therapeutics Stock Up 5.0 %

Shares of NASDAQ OVID opened at $0.70 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The company has a market cap of $49.45 million, a P/E ratio of -1.48 and a beta of 0.30. Ovid Therapeutics has a 1 year low of $0.65 and a 1 year high of $4.10. The firm has a 50-day simple moving average of $0.92 and a two-hundred day simple moving average of $1.05.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.15 million. Research analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of OVID. BNP Paribas Financial Markets grew its holdings in Ovid Therapeutics by 4,128.7% in the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after purchasing an additional 215,189 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after buying an additional 141,002 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Ovid Therapeutics during the third quarter valued at $102,000. Verition Fund Management LLC purchased a new stake in shares of Ovid Therapeutics during the third quarter valued at $88,000. Finally, Barclays PLC grew its holdings in shares of Ovid Therapeutics by 311.2% during the third quarter. Barclays PLC now owns 84,175 shares of the company’s stock valued at $98,000 after buying an additional 63,702 shares during the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.

Ovid Therapeutics Company Profile

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.