Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.04 Average Target Price from Analysts

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.04.

A number of research firms have commented on OVID. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a research report on Monday, September 30th.

Hedge Funds Weigh In On Ovid Therapeutics

Several large investors have recently modified their holdings of OVID. Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics in the third quarter valued at about $102,000. Driehaus Capital Management LLC acquired a new position in shares of Ovid Therapeutics in the 2nd quarter worth approximately $1,077,000. DCF Advisers LLC boosted its position in shares of Ovid Therapeutics by 111.6% during the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after purchasing an additional 22,020 shares during the period. FFT Wealth Management LLC increased its holdings in Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after purchasing an additional 75,530 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Ovid Therapeutics by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after purchasing an additional 3,145 shares during the period. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

Shares of OVID stock opened at $1.18 on Tuesday. The stock has a 50 day simple moving average of $1.15 and a 200-day simple moving average of $1.64. Ovid Therapeutics has a 1-year low of $0.68 and a 1-year high of $4.10. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.16.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.34. The company had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.14 million. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. As a group, equities research analysts anticipate that Ovid Therapeutics will post -0.49 earnings per share for the current year.

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.