HC Wainwright reiterated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID – Free Report) in a research report sent to investors on Monday morning, Benzinga reports. HC Wainwright currently has a $3.00 price objective on the stock. HC Wainwright also issued estimates for Ovid Therapeutics’ Q3 2024 earnings at ($0.24) EPS, FY2024 earnings at ($0.46) EPS and FY2025 earnings at ($0.65) EPS.
Several other equities research analysts also recently commented on the company. Oppenheimer downgraded Ovid Therapeutics from an outperform rating to a market perform rating in a report on Tuesday, June 18th. BTIG Research reduced their target price on shares of Ovid Therapeutics from $11.00 to $5.00 and set a buy rating on the stock in a research report on Tuesday, June 18th. Citigroup decreased their target price on shares of Ovid Therapeutics from $3.50 to $1.20 and set a neutral rating for the company in a research note on Tuesday, June 18th. Finally, B. Riley dropped their price target on shares of Ovid Therapeutics from $9.00 to $3.00 and set a buy rating on the stock in a research note on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ovid Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $4.70.
Read Our Latest Stock Analysis on OVID
Ovid Therapeutics Price Performance
Institutional Trading of Ovid Therapeutics
Several institutional investors have recently added to or reduced their stakes in the stock. FFT Wealth Management LLC bought a new stake in Ovid Therapeutics in the fourth quarter valued at about $1,274,000. Vestal Point Capital LP bought a new stake in shares of Ovid Therapeutics in the 4th quarter valued at approximately $275,000. Assenagon Asset Management S.A. raised its position in shares of Ovid Therapeutics by 45.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock valued at $349,000 after acquiring an additional 35,786 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Ovid Therapeutics by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock worth $41,000 after purchasing an additional 5,401 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Ovid Therapeutics by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after purchasing an additional 13,756 shares during the period. 72.24% of the stock is owned by institutional investors and hedge funds.
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.
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