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

Shares of Ovid Therapeutics (NASDAQ:OVID) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.1250.

OVID has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a research report on Wednesday, April 15th. Wall Street Zen cut Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Roth Capital reaffirmed a “buy” rating and issued a $7.00 price target on shares of Ovid Therapeutics in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research note on Tuesday, July 21st.

Institutional Trading of Ovid Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of OVID. Private Advisor Group LLC purchased a new position in Ovid Therapeutics in the 3rd quarter valued at about $33,000. Jane Street Group LLC acquired a new position in shares of Ovid Therapeutics during the second quarter valued at approximately $47,000. Total Clarity Wealth Management Inc. acquired a new position in shares of Ovid Therapeutics during the fourth quarter valued at approximately $47,000. State of Wyoming purchased a new position in shares of Ovid Therapeutics in the first quarter valued at approximately $49,000. Finally, LPL Financial LLC boosted its stake in shares of Ovid Therapeutics by 150.0% in the fourth quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock worth $49,000 after acquiring an additional 18,000 shares during the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $2.22 on Wednesday. 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 stock has a market capitalization of $414.34 million, a price-to-earnings ratio of -7.66 and a beta of 0.18. The firm’s 50 day simple moving average is $2.45 and its 200-day simple moving average is $2.24. Ovid Therapeutics has a 12 month low of $0.47 and a 12 month high of $3.11.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) 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 expect that Ovid Therapeutics will post -0.5 EPS for the current 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.