Ovid Therapeutics (NASDAQ:OVID) Receives $3.88 Average PT from Analysts

Shares of Ovid Therapeutics (NASDAQ:OVID) have received an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $3.8750.

A number of equities research analysts have recently commented on the company. Roth Mkm assumed coverage on Ovid Therapeutics in a research report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price objective for the company. Wall Street Zen lowered Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Lifesci Capital started coverage on shares of Ovid Therapeutics in a research note on Monday, December 22nd. They set an “outperform” rating and a $4.00 price objective for the company. Leerink Partners began coverage on shares of Ovid Therapeutics in a report on Monday, November 17th. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $2.00 target price on shares of Ovid Therapeutics in a research report on Monday, December 22nd.

Ovid Therapeutics Stock Up 10.1%

OVID stock opened at $1.85 on Friday. The company has a 50 day moving average price of $1.61 and a two-hundred day moving average price of $1.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market capitalization of $131.74 million, a P/E ratio of -3.70 and a beta of 0.25. Ovid Therapeutics has a one year low of $0.24 and a one year high of $2.01.

Institutional Trading of Ovid Therapeutics

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. purchased a new position in shares of Ovid Therapeutics in the 4th quarter worth $54,000. ADAR1 Capital Management LLC increased its stake in Ovid Therapeutics by 33,256.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 4,285,000 shares of the company’s stock worth $6,985,000 after acquiring an additional 4,272,154 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Ovid Therapeutics by 217.2% in the 4th quarter. Quadrature Capital Ltd now owns 87,874 shares of the company’s stock worth $143,000 after purchasing an additional 60,171 shares during the period. Millennium Management LLC raised its holdings in shares of Ovid Therapeutics by 35.8% in the 4th quarter. Millennium Management LLC now owns 1,339,465 shares of the company’s stock worth $2,183,000 after purchasing an additional 353,172 shares during the period. Finally, Ally Bridge Group NY LLC acquired a new position in shares of Ovid Therapeutics in the 4th quarter valued at about $2,910,000. 72.24% of the stock is owned by hedge funds and other institutional investors.

Ovid Therapeutics Company Profile

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.