Ovid Therapeutics (NASDAQ:OVID) Stock Has Consensus Price Target of $6.12 According to Brokerages

Shares of Ovid Therapeutics (NASDAQ:OVID) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.12.

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th. HC Wainwright increased their target price on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Guggenheim began coverage on shares of Ovid Therapeutics in a research report on Tuesday, October 6th. They set a “buy” rating and a $7.00 price target on the stock. B. Riley Financial reissued a “buy” rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th.

Institutional Investors Weigh In On Ovid Therapeutics

Several institutional investors have recently added to or reduced their stakes in OVID. Spark Investment Management LLC bought a new stake in shares of Ovid Therapeutics in the second quarter worth $86,000. Braidwell LP bought a new stake in Ovid Therapeutics during the 2nd quarter worth about $15,923,000. Two Sigma Securities LLC increased its position in shares of Ovid Therapeutics by 182.3% in the second quarter. Two Sigma Securities LLC now owns 71,487 shares of the company’s stock valued at $192,000 after acquiring an additional 46,163 shares during the last quarter. Wellington Management Group LLP bought a new stake in Ovid Therapeutics during the second quarter worth about $278,000. Finally, Empowered Funds LLC bought a new stake in Ovid Therapeutics during the second quarter worth about $245,000. 72.24% of the stock is owned by institutional investors.

Ovid Therapeutics Price Performance

Ovid Therapeutics stock opened at $2.19 on Monday. The firm has a market capitalization of $427.70 million, a P/E ratio of -7.06 and a beta of 0.22. Ovid Therapeutics has a 1 year low of $1.18 and a 1 year high of $3.11. The business has a 50-day moving average of $2.64 and a 200-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 quarterly earnings results on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.02 million. On average, equities analysts anticipate that Ovid Therapeutics will post -0.37 EPS for the current year.

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.