Ovid Therapeutics Inc (NASDAQ:OVID) has been given a consensus recommendation of “Hold” by the six research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.50.

OVID has been the subject of several recent analyst reports. BidaskClub upgraded Ovid Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, July 15th. ValuEngine upgraded Ovid Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. LADENBURG THALM/SH SH initiated coverage on Ovid Therapeutics in a research note on Friday, April 20th. They set a “buy” rating and a $27.00 price target for the company. Piper Jaffray Companies initiated coverage on Ovid Therapeutics in a research note on Sunday, May 20th. They set a “buy” rating and a $20.00 price target for the company. Finally, Zacks Investment Research upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spark Investment Management LLC boosted its stake in Ovid Therapeutics by 83.3% during the 1st quarter. Spark Investment Management LLC now owns 19,800 shares of the company’s stock valued at $139,000 after purchasing an additional 9,000 shares during the period. California State Teachers Retirement System boosted its stake in Ovid Therapeutics by 109.8% during the 1st quarter. California State Teachers Retirement System now owns 18,676 shares of the company’s stock valued at $132,000 after purchasing an additional 9,776 shares during the period. Acadian Asset Management LLC boosted its stake in Ovid Therapeutics by 165.4% during the 2nd quarter. Acadian Asset Management LLC now owns 19,729 shares of the company’s stock valued at $154,000 after purchasing an additional 12,294 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Ovid Therapeutics by 67.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 34,295 shares of the company’s stock valued at $243,000 after purchasing an additional 13,785 shares during the period. Finally, DRW Securities LLC bought a new stake in Ovid Therapeutics during the 1st quarter valued at approximately $108,000. Institutional investors own 28.55% of the company’s stock.

Shares of Ovid Therapeutics opened at $6.16 on Thursday, MarketBeat.com reports. Ovid Therapeutics has a fifty-two week low of $5.41 and a fifty-two week high of $12.44. The stock has a market capitalization of $148.23 million, a price-to-earnings ratio of -1.84 and a beta of 2.05.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Thursday, August 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.07. sell-side analysts anticipate that Ovid Therapeutics will post -2.51 earnings per share for the current year.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

Recommended Story: Average Daily Trade Volume Explained

Receive News & Ratings for Ovid Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovid Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.