Ovid Therapeutics (NASDAQ:OVID) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Ovid Therapeutics (NASDAQ:OVID) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several research analysts have issued reports on OVID shares. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HC Wainwright increased their price objective on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, September 11th. B. Riley Financial reissued a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Guggenheim initiated coverage on shares of Ovid Therapeutics in a research note on Tuesday, October 6th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, UBS Group restated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, September 11th.

Ovid Therapeutics Stock Performance

Shares of NASDAQ OVID opened at $2.15 on Monday. The company has a quick ratio of 12.39, a current ratio of 12.39 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $2.62 and a two-hundred day simple moving average of $2.57. The firm has a market cap of $419.89 million, a PE ratio of -6.94 and a beta of 0.22. Ovid Therapeutics has a twelve month low of $1.18 and a twelve month high of $3.11.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. The firm had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $0.02 million. Analysts expect that Ovid Therapeutics will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OVID. Jupiter Topco LLC purchased a new stake in shares of Ovid Therapeutics during the 2nd quarter worth $55,898,000. BlackRock Inc. bought a new stake in Ovid Therapeutics during the second quarter valued at about $29,115,000. Janus Henderson Group PLC purchased a new position in Ovid Therapeutics in the first quarter valued at about $23,732,000. Affinity Asset Advisors LLC grew its stake in Ovid Therapeutics by 48.8% in the first quarter. Affinity Asset Advisors LLC now owns 10,636,318 shares of the company’s stock valued at $23,613,000 after purchasing an additional 3,486,318 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in Ovid Therapeutics in the second quarter valued at about $19,953,000. 72.24% of the stock is owned by institutional investors.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare neurological disorders, including epilepsies and neurodevelopmental conditions. The company’s research programs are designed to address diseases with significant unmet medical needs and limited treatment options.

Ovid has developed a pipeline of investigational therapies targeting the underlying biology of neurological disorders. Its programs have included treatments for seizure disorders such as Dravet syndrome and Lennox-Gastaut syndrome, as well as potential therapies for other rare epileptic and neurodevelopmental conditions.