Ovid Therapeutics (NASDAQ:OVID) Receives $5.13 Consensus PT from Brokerages

Ovid Therapeutics (NASDAQ:OVID) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.1250.

Several research firms recently weighed in on OVID. BTIG Research reiterated a “buy” rating and issued a $4.00 price target on shares of Ovid Therapeutics in a report on Thursday, March 26th. Wall Street Zen cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Tuesday, April 21st. HC Wainwright lifted their price target on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $7.00 price target on shares of Ovid Therapeutics in a report on Thursday, May 14th.

Ovid Therapeutics Stock Performance

NASDAQ:OVID opened at $2.30 on Tuesday. The stock has a market cap of $429.27 million, a P/E ratio of -7.93 and a beta of 0.16. The firm’s fifty day simple moving average is $2.60 and its 200 day simple moving average is $2.04. Ovid Therapeutics has a twelve month low of $0.27 and a twelve month high of $3.11. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.06.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share 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%. As a group, research analysts predict that Ovid Therapeutics will post -0.5 EPS for the current year.

Institutional Trading of Ovid Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC grew its position in shares of Ovid Therapeutics by 150.0% in the 4th quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock worth $49,000 after buying an additional 18,000 shares during the period. Bank of America Corp DE grew its position in shares of Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after buying an additional 18,841 shares during the period. Benin Management CORP purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth about $31,000. Sovereign Financial Group Inc. grew its position in shares of Ovid Therapeutics by 200.0% in the 1st quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company’s stock worth $67,000 after buying an additional 20,000 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Ovid Therapeutics in the 1st quarter worth about $49,000. 72.24% of the stock is 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.