Ovid Therapeutics (NASDAQ:OVID) Receives $5.71 Consensus PT from Brokerages

Shares of Ovid Therapeutics (NASDAQ:OVID) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.7143.

A number of analysts have recently weighed in on OVID shares. B. Riley Financial reissued a “buy” rating on shares of Ovid Therapeutics in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Roth Capital reissued a “buy” rating and set a $7.00 price target on shares of Ovid Therapeutics in a research report on Thursday, May 14th. Finally, Oppenheimer raised their price target on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd.

Institutional Trading of Ovid Therapeutics

A number of institutional investors have recently modified their holdings of OVID. Bank of America Corp DE increased its holdings in Ovid Therapeutics by 49.7% during the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after purchasing an additional 18,841 shares during the period. Acadian Asset Management LLC raised its position in Ovid Therapeutics by 12.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock valued at $650,000 after purchasing an additional 237,445 shares during the last quarter. Marshall Wace LLP purchased a new stake in Ovid Therapeutics in the 2nd quarter worth approximately $54,000. Jane Street Group LLC purchased a new stake in Ovid Therapeutics in the 2nd quarter worth approximately $47,000. Finally, Rosalind Advisors Inc. bought a new stake in shares of Ovid Therapeutics in the 2nd quarter worth approximately $165,000. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

Ovid Therapeutics Trading Up 3.2%

NASDAQ OVID opened at $2.91 on Friday. Ovid Therapeutics has a 1-year low of $1.12 and a 1-year high of $3.11. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $2.55 and a 200-day moving average of $2.37. The firm has a market cap of $568.32 million, a PE ratio of -9.39 and a beta of 0.21.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. The company had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $0.02 million. Ovid Therapeutics had a negative return on equity of 23.64% and a negative net margin of 240.11%. As a group, sell-side analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current year.

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.