Ovid Therapeutics (NASDAQ:OVID) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) in a report released on Tuesday, Benzinga reports. They currently have a $3.00 target price on the stock.

Several other analysts also recently commented on the stock. Wedbush began coverage on shares of Ovid Therapeutics in a research report on Friday, April 5th. They issued an outperform rating and a $8.00 target price for the company. Oppenheimer downgraded shares of Ovid Therapeutics from an outperform rating to a market perform rating 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 report on Tuesday, June 18th. B. Riley decreased their target price on shares of Ovid Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a research report on Tuesday, June 18th. Finally, BTIG Research decreased their target price on shares of Ovid Therapeutics from $11.00 to $5.00 and set a buy rating for the company in a research report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $4.70.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $0.75 on Tuesday. The company’s 50 day moving average price is $2.49 and its 200 day moving average price is $3.03. Ovid Therapeutics has a 52 week low of $0.68 and a 52 week high of $4.14. The company has a market capitalization of $53.33 million, a PE ratio of -1.03 and a beta of 0.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.47 and a current ratio of 10.47.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The firm had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.11 million. Ovid Therapeutics had a negative net margin of 10,691.14% and a negative return on equity of 53.62%. Research analysts expect that Ovid Therapeutics will post -0.81 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after buying an additional 3,145 shares during the period. Empowered Funds LLC raised its stake in Ovid Therapeutics by 8.1% during the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after purchasing an additional 9,625 shares during the last quarter. BNP Paribas Financial Markets raised its stake 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 during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Ovid Therapeutics by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after purchasing an additional 5,401 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in 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 purchasing an additional 35,786 shares during the last quarter. 72.24% of the stock is owned by institutional investors.

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.