Ovid Therapeutics (NASDAQ:OVID) Coverage Initiated by Analysts at Lifesci Capital

Lifesci Capital started coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a note issued to investors on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $4.00 price target on the stock. Lifesci Capital’s target price would indicate a potential upside of 131.88% from the company’s current price.

OVID has been the subject of several other research reports. Leerink Partners began coverage on Ovid Therapeutics in a research note on Monday, November 17th. They issued an “outperform” rating and a $5.00 price target for the company. B. Riley restated a “buy” rating on shares of Ovid Therapeutics in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Wednesday, October 8th. Roth Capital began coverage on shares of Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $2.00 price target on shares of Ovid Therapeutics in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ovid Therapeutics has a consensus rating of “Buy” and a consensus price target of $3.88.

Ovid Therapeutics Stock Up 17.3%

NASDAQ OVID traded up $0.26 on Monday, hitting $1.73. 1,139,318 shares of the stock traded hands, compared to its average volume of 1,518,093. The company has a market capitalization of $122.84 million, a P/E ratio of -3.49 and a beta of 0.04. Ovid Therapeutics has a twelve month low of $0.24 and a twelve month high of $2.01. The stock has a 50-day moving average of $1.50 and a 200 day moving average of $1.06. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.28.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%.The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.17 million. As a group, analysts expect that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after purchasing an additional 18,841 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Ovid Therapeutics in the first quarter valued at approximately $37,000. Affinity Asset Advisors LLC bought a new stake in shares of Ovid Therapeutics in the first quarter valued at approximately $208,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Ovid Therapeutics by 15.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $359,000 after buying an additional 150,000 shares during the period. Finally, Acadian Asset Management LLC grew its position in Ovid Therapeutics by 12.8% during the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after buying an additional 237,445 shares in the last quarter. 72.24% of the stock is owned by institutional investors.

Ovid Therapeutics Company Profile

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.