Ovid Therapeutics (NASDAQ:OVID) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Ovid Therapeutics (NASDAQ:OVID) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $2.34 and traded as high as $2.49. Ovid Therapeutics shares last traded at $2.45, with a volume of 2,053,041 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OVID. Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Thursday, October 15th. Wolfe Research started coverage on shares of Ovid Therapeutics in a report on Thursday, October 15th. They set an “outperform” rating and a $5.00 price target on the stock. Roth Capital restated a “buy” rating and set a $8.00 price target on shares of Ovid Therapeutics in a research report on Thursday, September 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Ovid Therapeutics Trading Down 0.8%

The company has a debt-to-equity ratio of 0.05, a current ratio of 12.39 and a quick ratio of 12.39. The firm has a 50-day moving average price of $2.54 and a two-hundred day moving average price of $2.35.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $0.73 million for the quarter, compared to analysts’ expectations of $0.02 million. On average, research analysts predict that Ovid Therapeutics will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ovid Therapeutics

A number of institutional investors have recently bought and sold shares of OVID. Legal & General Group Plc acquired a new stake in Ovid Therapeutics during the second quarter worth $40,000. State of Wyoming acquired a new stake in shares of Ovid Therapeutics during the first quarter valued at about $49,000. E Fund Management Co. Ltd. acquired a new stake in shares of Ovid Therapeutics during the second quarter valued at about $52,000. Focus Partners Advisor Solutions LLC acquired a new stake in Ovid Therapeutics in the 2nd quarter valued at approximately $54,000. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Ovid Therapeutics in the 2nd quarter valued at $57,297. 72.24% of the stock is owned by hedge funds and other institutional investors.

About Ovid Therapeutics

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for epilepsies and other disorders of the central nervous system. The company’s research has concentrated on conditions with significant unmet medical needs, including rare epileptic and neurodevelopmental disorders.

Ovid’s pipeline has included soticlestat, an investigational therapy developed in collaboration with Takeda Pharmaceutical Company for developmental and epileptic encephalopathies such as Dravet syndrome and Lennox-Gastaut syndrome.