Ovid Therapeutics Inc. (NASDAQ:OVID) Receives Consensus Rating of “Buy” from Brokerages

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

A number of equities research analysts have issued reports on OVID shares. Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target for the company in a research note on Wednesday, January 29th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a research note on Wednesday, December 4th.

Ovid Therapeutics Price Performance

Shares of Ovid Therapeutics stock opened at $0.70 on Thursday. Ovid Therapeutics has a one year low of $0.65 and a one year high of $4.10. The stock’s fifty day moving average is $0.92 and its 200 day moving average is $1.05. The stock has a market cap of $49.45 million, a P/E ratio of -1.48 and a beta of 0.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.15 million. Sell-side analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd grew its position in Ovid Therapeutics by 46.2% in the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after acquiring an additional 12,076 shares in the last quarter. Geode Capital Management LLC grew its position in Ovid Therapeutics by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after acquiring an additional 14,816 shares in the last quarter. Rhumbline Advisers grew its position in Ovid Therapeutics by 22.3% in the fourth quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after acquiring an additional 15,355 shares in the last quarter. SG Americas Securities LLC grew its position in Ovid Therapeutics by 83.9% in the fourth quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after acquiring an additional 17,172 shares in the last quarter. Finally, FMR LLC grew its position in Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after acquiring an additional 47,723 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

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.