Ovid Therapeutics (NASDAQ:OVID) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ovid Therapeutics (NASDAQ:OVID) have received an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.7143.

A number of brokerages have weighed in on OVID. Roth Capital reiterated a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research note on Thursday, May 14th. Oppenheimer raised their price target on Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th.

Institutional Investors Weigh In On Ovid Therapeutics

Large investors have recently made changes to their positions in the company. Ally Bridge Group NY LLC raised its position in Ovid Therapeutics by 57.9% in the first quarter. Ally Bridge Group NY LLC now owns 2,818,459 shares of the company’s stock worth $6,257,000 after acquiring an additional 1,033,459 shares during the period. Affinity Asset Advisors LLC grew its position in shares of Ovid Therapeutics by 48.8% during the 1st quarter. Affinity Asset Advisors LLC now owns 10,636,318 shares of the company’s stock valued at $23,613,000 after acquiring an additional 3,486,318 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Ovid Therapeutics during the 1st quarter valued at $23,732,000. ADAR1 Capital Management LLC increased its stake in shares of Ovid Therapeutics by 6.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 4,544,113 shares of the company’s stock worth $10,088,000 after purchasing an additional 259,113 shares in the last quarter. Finally, Eventide Asset Management LLC purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth $6,985,000. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $2.80 on Friday. The company has a 50 day moving average price of $2.58 and a 200-day moving average price of $2.40. Ovid Therapeutics has a 52 week low of $1.12 and a 52 week high of $3.11. The firm has a market capitalization of $546.84 million, a PE ratio of -9.03 and a beta of 0.21. The company has a quick ratio of 12.39, a current ratio of 12.39 and a debt-to-equity ratio of 0.05.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.64%. The firm had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $0.02 million. As a group, equities research analysts expect that Ovid Therapeutics will post -0.4 earnings per share for the current year.

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.