Ovid Therapeutics (NASDAQ:OVID) Given Average Recommendation of “Moderate Buy” by Analysts

Ovid Therapeutics (NASDAQ:OVID) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.1250.

Several equities analysts have recently issued reports on OVID shares. Wedbush reaffirmed an “outperform” rating and set a $7.00 price target on shares of Ovid Therapeutics in a research note on Wednesday, April 15th. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of Ovid Therapeutics in a research note on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Tuesday, April 21st. Roth Mkm reaffirmed a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 21st.

Ovid Therapeutics Stock Down 0.4%

Shares of OVID opened at $2.40 on Friday. The company has a market cap of $316.51 million, a P/E ratio of -8.28 and a beta of 0.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17. The firm has a 50 day simple moving average of $2.52 and a two-hundred day simple moving average of $1.90. Ovid Therapeutics has a one year low of $0.27 and a one year high of $3.11.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 22.51%. Research analysts forecast that Ovid Therapeutics will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benin Management CORP purchased a new position in Ovid Therapeutics during the fourth quarter worth about $31,000. State of Wyoming purchased a new position in Ovid Therapeutics in the first quarter valued at about $49,000. Private Advisor Group LLC purchased a new stake in shares of Ovid Therapeutics during the 3rd quarter valued at approximately $33,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of Ovid Therapeutics during the 4th quarter valued at approximately $47,000. Finally, Sovereign Financial Group Inc. lifted its stake in shares of Ovid Therapeutics by 200.0% during the 1st quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company’s stock valued at $67,000 after buying an additional 20,000 shares in the last quarter. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

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.