Ovid Therapeutics (NASDAQ:OVID) Receives $5.12 Average Target Price from Analysts

Ovid Therapeutics (NASDAQ:OVID) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $5.1250.

Several brokerages have issued reports on OVID. BTIG Research reaffirmed a “buy” rating and set a $4.00 price objective on shares of Ovid Therapeutics in a report on Thursday, March 26th. HC Wainwright boosted their price objective on Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Roth Capital reissued a “buy” rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $7.00 price target on shares of Ovid Therapeutics in a research report on Wednesday, April 15th.

Institutional Investors Weigh In On Ovid Therapeutics

Several hedge funds have recently made changes to their positions in the business. Eventide Asset Management LLC purchased a new stake in Ovid Therapeutics during the 4th quarter valued at approximately $6,985,000. Parkman Healthcare Partners LLC purchased a new position in shares of Ovid Therapeutics in the 3rd quarter valued at approximately $264,000. Graham Capital Management L.P. purchased a new position in shares of Ovid Therapeutics in the 4th quarter valued at approximately $208,000. Rosalind Advisors Inc. acquired a new position in shares of Ovid Therapeutics in the second quarter valued at approximately $165,000. Finally, Quadrature Capital Ltd increased its holdings in shares of Ovid Therapeutics by 217.2% in the fourth quarter. Quadrature Capital Ltd now owns 87,874 shares of the company’s stock valued at $143,000 after purchasing an additional 60,171 shares during the period. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $2.73 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17. The company has a market cap of $509.53 million, a price-to-earnings ratio of -9.41 and a beta of 0.18. The stock’s 50-day moving average is $2.54 and its two-hundred day moving average is $2.16. Ovid Therapeutics has a 1-year low of $0.36 and a 1-year high of $3.11.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 22.51%. Analysts forecast that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

About Ovid Therapeutics

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.