Ovid Therapeutics (NASDAQ:OVID) Raised to “Hold” at Wall Street Zen

Ovid Therapeutics (NASDAQ:OVID) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other research analysts have also recently weighed in on the stock. Wedbush upped their price target on shares of Ovid Therapeutics from $5.00 to $7.00 and gave the company an “outperform” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Ovid Therapeutics in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Thursday, January 22nd. Lifesci Capital began coverage on Ovid Therapeutics in a report on Monday, December 22nd. They set an “outperform” rating and a $4.00 target price for the company. Finally, Roth Mkm began coverage on Ovid Therapeutics in a research note on Thursday, December 11th. They issued a “buy” rating and a $3.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $4.38.

Ovid Therapeutics Trading Up 13.9%

NASDAQ:OVID opened at $2.62 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 8.97 and a quick ratio of 8.97. The business’s 50-day simple moving average is $1.70 and its 200-day simple moving average is $1.58. Ovid Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $2.72. The stock has a market capitalization of $186.57 million, a PE ratio of -8.45 and a beta of 0.25.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Wednesday, March 18th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $0.06 million. Ovid Therapeutics had a negative return on equity of 23.98% and a negative net margin of 240.11%. Sell-side analysts expect that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Benin Management CORP acquired a new stake in Ovid Therapeutics in the 4th quarter valued at $31,000. Private Advisor Group LLC acquired a new position in shares of Ovid Therapeutics during the 3rd quarter worth about $33,000. Apollon Wealth Management LLC acquired a new position in shares of Ovid Therapeutics during the 3rd quarter worth about $36,000. Total Clarity Wealth Management Inc. bought a new position in shares of Ovid Therapeutics in the 4th quarter valued at about $47,000. Finally, Jane Street Group LLC bought a new position in shares of Ovid Therapeutics in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

About Ovid Therapeutics

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.