Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have earned an average recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $4.03.

Several equities research analysts have recently weighed in on the company. Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a research note on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Takeda Pharmaceutical Co. Ltd. acquired a new position in Ovid Therapeutics during the 4th quarter worth $7,012,000. Adage Capital Partners GP L.L.C. acquired a new position in Ovid Therapeutics during the 4th quarter worth $934,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ovid Therapeutics by 50.2% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 943,416 shares of the company’s stock worth $881,000 after buying an additional 315,126 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Ovid Therapeutics during the 4th quarter worth $272,000. Finally, BNP Paribas Financial Markets lifted its holdings in Ovid Therapeutics by 4,128.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after buying an additional 215,189 shares in the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

Ovid Therapeutics Trading Up 0.2 %

OVID stock opened at $0.52 on Monday. Ovid Therapeutics has a 1-year low of $0.47 and a 1-year high of $3.45. The firm has a market cap of $36.89 million, a P/E ratio of -1.11 and a beta of 0.29. The business’s 50 day moving average is $0.70 and its 200-day moving average is $0.98. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18.

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.