BTIG Research Issues Pessimistic Forecast for Ovid Therapeutics (NASDAQ:OVID) Stock Price

Ovid Therapeutics (NASDAQ:OVID) had its price objective decreased by BTIG Research from $5.00 to $4.00 in a research report report published on Monday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target on the stock in a research note on Wednesday, January 29th. Wedbush reiterated an “outperform” rating and issued a $3.00 price objective (down from $4.00) on shares of Ovid Therapeutics in a report on Wednesday, March 12th. Finally, HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3.03.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $0.44 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The firm has a 50-day moving average of $0.60 and a 200-day moving average of $0.92. The company has a market cap of $31.58 million, a PE ratio of -0.95 and a beta of 0.29. Ovid Therapeutics has a one year low of $0.42 and a one year high of $3.45.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.19 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. As a group, equities analysts forecast that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Ovid Therapeutics

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC increased its position in Ovid Therapeutics by 83.9% during the fourth quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after acquiring an additional 17,172 shares during the period. XTX Topco Ltd boosted its holdings in Ovid Therapeutics by 46.2% in the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after purchasing an additional 12,076 shares during the period. FMR LLC grew its position in shares of Ovid Therapeutics by 1,907.4% during the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after purchasing an additional 47,723 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Ovid Therapeutics by 49.7% during the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after purchasing an additional 18,841 shares during the period. Finally, Velan Capital Investment Management LP acquired a new stake in shares of Ovid Therapeutics in the fourth quarter valued at approximately $65,000. Institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

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.