Ovid Therapeutics (NASDAQ:OVID) Downgraded by Zacks Investment Research to Sell
According to Zacks, “Ovid Therapeutics Inc. is a biopharmaceutical company. It engaged in developing therapies for patients with rare neurological disorders. The company’s product pipeline consists of OV101, is currently in development for the treatment of symptoms of Angelman syndrome and Fragile X syndrome. It also involved in developing OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare epileptic encephalopathies. Ovid Therapeutics Inc. is based in New York, United States. “
OVID has been the subject of a number of other reports. LADENBURG THALM/SH SH reaffirmed a buy rating on shares of Intec Pharma in a research note on Thursday, May 16th. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, Cowen reaffirmed a buy rating on shares of Ovid Therapeutics in a research note on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $12.85.
Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). Analysts expect that Ovid Therapeutics will post -1.84 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of OVID. Two Sigma Investments LP purchased a new stake in shares of Ovid Therapeutics in the fourth quarter worth approximately $114,000. Acadian Asset Management LLC lifted its position in shares of Ovid Therapeutics by 445.6% in the first quarter. Acadian Asset Management LLC now owns 153,898 shares of the company’s stock worth $272,000 after purchasing an additional 125,690 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ovid Therapeutics by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 87,257 shares of the company’s stock worth $211,000 after purchasing an additional 8,995 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ovid Therapeutics by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock worth $231,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Ovid Therapeutics by 47.2% in the fourth quarter. Rhumbline Advisers now owns 16,551 shares of the company’s stock worth $40,000 after purchasing an additional 5,310 shares in the last quarter. 31.73% of the stock is owned by institutional investors.
Ovid Therapeutics Company Profile
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.
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