Ovid Therapeutics (NASDAQ:OVID) Research Coverage Started at Guggenheim

Guggenheim assumed coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $7.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright upped their target price on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a report on Friday, September 11th. Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Oppenheimer upped their price target on Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. UBS Group reiterated a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, September 11th. Finally, Roth Capital reissued a “buy” rating and issued a $8.00 price objective on shares of Ovid Therapeutics in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.12.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $2.34 on Tuesday. The stock has a market cap of $457.00 million, a P/E ratio of -7.55 and a beta of 0.22. Ovid Therapeutics has a twelve month low of $1.18 and a twelve month high of $3.11. The stock has a 50 day moving average of $2.65 and a two-hundred day moving average of $2.57. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05.

Ovid Therapeutics (NASDAQ:OVID) last announced 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 forecast that Ovid Therapeutics will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

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

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.