Ovid Therapeutics (NASDAQ:OVID) Given Consensus Rating of “Moderate Buy” by Brokerages

Ovid Therapeutics (NASDAQ:OVID) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $5.3750.

A number of equities research analysts have commented on OVID shares. HC Wainwright increased their price objective on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Oppenheimer raised their target price on Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Monday. B. Riley Financial reissued a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Wall Street Zen lowered Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Ovid Therapeutics in a report on Wednesday, April 15th.

Ovid Therapeutics Stock Performance

Shares of NASDAQ:OVID opened at $2.54 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17. The stock has a market capitalization of $474.07 million, a price-to-earnings ratio of -8.76 and a beta of 0.21. Ovid Therapeutics has a fifty-two week low of $0.48 and a fifty-two week high of $3.11. The business’s fifty day moving average price is $2.45 and its two-hundred day moving average price is $2.25.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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, analysts predict that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after acquiring an additional 18,841 shares during the period. Acadian Asset Management LLC grew its position in shares of Ovid Therapeutics by 12.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after purchasing an additional 237,445 shares in the last quarter. Marshall Wace LLP bought a new position in Ovid Therapeutics during the 2nd quarter worth $54,000. Jane Street Group LLC acquired a new position in Ovid Therapeutics in the second quarter valued at about $47,000. Finally, Rosalind Advisors Inc. acquired a new position in shares of Ovid Therapeutics in the 2nd quarter valued at approximately $165,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.