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

Ovid Therapeutics Inc. (NASDAQ:OVID) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.04.

A number of brokerages have commented on OVID. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, December 4th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $0.97 on Wednesday. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $1.13 and its two-hundred day moving average price is $1.15. The company has a market cap of $68.62 million, a PE ratio of -2.06 and a beta of 0.29. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.15 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. On average, analysts predict that Ovid Therapeutics will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. FFT Wealth Management LLC grew its holdings in shares of Ovid Therapeutics by 18.2% during the second quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after purchasing an additional 75,530 shares during the last quarter. DCF Advisers LLC boosted its position in 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 buying an additional 22,020 shares during the period. Driehaus Capital Management LLC bought a new stake in Ovid Therapeutics during the 2nd quarter worth approximately $1,077,000. Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics in the 3rd quarter valued at approximately $102,000. Finally, GSA Capital Partners LLP increased its position in Ovid Therapeutics by 118.0% in the 3rd quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after acquiring an additional 141,002 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.