Ovid Therapeutics’ (OVID) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a research note published on Monday, Benzinga reports. They currently have a $3.00 target price on the stock.

Other research analysts have also issued research reports about the stock. B. Riley cut 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. William Blair raised shares of Ovid Therapeutics to a strong-buy rating in a report on Friday, August 30th. BTIG Research decreased their price objective on Ovid Therapeutics from $11.00 to $5.00 and set a buy rating for the company in a report on Tuesday, June 18th. Citigroup dropped their target price on Ovid Therapeutics from $3.50 to $1.20 and set a neutral rating on the stock in a report on Tuesday, June 18th. Finally, Oppenheimer lowered Ovid Therapeutics from an outperform rating to a market perform rating in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $4.70.

Ovid Therapeutics Stock Performance

NASDAQ OVID opened at $1.13 on Monday. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $1.09 and a 200 day moving average price of $1.96. Ovid Therapeutics has a 52 week low of $0.68 and a 52 week high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. Equities research analysts predict that Ovid Therapeutics will post -0.49 earnings per share for the current fiscal year.

Institutional Trading of Ovid Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OVID. Driehaus Capital Management LLC acquired a new stake in Ovid Therapeutics during the second quarter valued at $1,077,000. Vestal Point Capital LP acquired a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $275,000. FFT Wealth Management LLC grew its position in shares of Ovid Therapeutics by 18.2% in the second quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after purchasing an additional 75,530 shares during the period. DCF Advisers LLC grew its position in shares of Ovid Therapeutics by 111.6% in the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after purchasing an additional 22,020 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Ovid Therapeutics by 74.7% in the first 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 during the period. Institutional investors and hedge funds 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.