Analysts Set Ovid Therapeutics Inc. (NASDAQ:OVID) Price Target at $4.04

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.04.

A number of equities analysts have issued reports on OVID shares. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research report on Monday, September 30th. William Blair raised shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th.

Ovid Therapeutics Trading Up 1.8 %

Shares of Ovid Therapeutics stock opened at $1.11 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.10. The firm has a market cap of $78.82 million, a PE ratio of -2.36 and a beta of 0.41. The company has a 50 day simple moving average of $1.16 and a two-hundred day simple moving average of $1.42.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.15 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. Analysts expect that Ovid Therapeutics will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Ovid Therapeutics by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after acquiring an additional 3,145 shares during the period. XTX Topco Ltd increased its holdings in Ovid Therapeutics by 46.2% during the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after purchasing an additional 12,076 shares during the period. BNP Paribas Financial Markets raised its position in Ovid Therapeutics by 74.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after purchasing an additional 13,756 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ovid Therapeutics by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after buying an additional 14,816 shares during the period. Finally, DCF Advisers LLC grew its position in shares of Ovid Therapeutics by 111.6% during the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after buying an additional 22,020 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.