Ovid Therapeutics (NASDAQ:OVID) Receives Buy Rating from BTIG Research

Ovid Therapeutics (NASDAQ:OVID)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research note issued on Thursday,Benzinga reports. They currently have a $4.00 target price on the stock. BTIG Research’s price objective would suggest a potential upside of 62.60% from the company’s current price.

A number of other analysts also recently weighed in on OVID. HC Wainwright reaffirmed a “buy” rating and issued a $2.00 target price on shares of Ovid Therapeutics in a research report on Monday, December 22nd. Lifesci Capital started coverage on shares of Ovid Therapeutics in a research report on Monday, December 22nd. They set an “outperform” rating and a $4.00 price target for the company. Wall Street Zen raised shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Thursday, January 22nd. Finally, Roth Mkm assumed coverage on shares of Ovid Therapeutics in a research note on Thursday, December 11th. They set a “buy” rating and a $3.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $4.38.

Ovid Therapeutics Trading Up 2.5%

OVID opened at $2.46 on Thursday. The company has a quick ratio of 8.97, a current ratio of 8.97 and a debt-to-equity ratio of 0.09. Ovid Therapeutics has a 52 week low of $0.24 and a 52 week high of $2.72. The stock has a market cap of $175.18 million, a PE ratio of -7.94 and a beta of 0.25. The business has a 50 day moving average of $1.77 and a 200-day moving average of $1.60.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The company had revenue of $0.72 million for 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%. Equities research analysts predict that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Benin Management CORP bought a new position in shares of Ovid Therapeutics in the fourth quarter worth approximately $31,000. Private Advisor Group LLC purchased a new position in Ovid Therapeutics in the 3rd quarter worth approximately $33,000. Apollon Wealth Management LLC bought a new position in Ovid Therapeutics in the 3rd quarter valued at approximately $36,000. Total Clarity Wealth Management Inc. bought a new position in Ovid Therapeutics in the 4th quarter valued at approximately $47,000. Finally, Jane Street Group LLC purchased a new stake in Ovid Therapeutics during the 2nd quarter valued at $47,000. Institutional investors 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.