Ovid Therapeutics (NASDAQ:OVID) Stock Rating Reaffirmed by HC Wainwright

Ovid Therapeutics (NASDAQ:OVID)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 167.86% from the stock’s previous close.

A number of other brokerages have also recently weighed in on OVID. B. Riley decreased their price objective on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. BTIG Research cut their price target on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Citigroup lowered their price objective on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.70.

Ovid Therapeutics Trading Down 5.1 %

NASDAQ OVID opened at $1.12 on Monday. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.73 and a current ratio of 5.73. The company has a market capitalization of $79.46 million, a price-to-earnings ratio of -1.53 and a beta of 0.42. The company’s 50-day simple moving average is $1.09 and its two-hundred day simple moving average is $1.96.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.34. The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.14 million. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. Equities analysts forecast that Ovid Therapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Ovid Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of OVID. Driehaus Capital Management LLC purchased a new stake in shares of Ovid Therapeutics in the 2nd quarter valued at $1,077,000. BNP Paribas Financial Markets boosted its holdings in Ovid Therapeutics by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after purchasing an additional 13,756 shares during the last quarter. Vestal Point Capital LP acquired a new stake in Ovid Therapeutics during the 4th quarter worth about $275,000. DCF Advisers LLC raised its stake 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 valued at $32,000 after buying an additional 22,020 shares during the last quarter. Finally, FFT Wealth Management LLC lifted its holdings in shares of 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 buying an additional 75,530 shares during the period. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.