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

HC Wainwright reiterated their buy rating on shares of Ovid Therapeutics (NASDAQ:OVID) 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.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $1.21 on Monday. The stock has a fifty day moving average price of $0.97 and a 200 day moving average price of $2.43. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 0.16. Ovid Therapeutics has a 12-month low of $0.68 and a 12-month high of $4.10.

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.