Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.03 Average PT from Analysts

Ovid Therapeutics Inc. (NASDAQ:OVID) has received a consensus rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $4.03.

Several analysts have recently weighed in on OVID shares. Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a report on Wednesday, January 29th. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research note on Wednesday, December 4th.

Ovid Therapeutics Stock Up 7.7 %

NASDAQ OVID opened at $0.62 on Thursday. The company’s fifty day moving average is $0.87 and its two-hundred day moving average is $1.03. Ovid Therapeutics has a 52-week low of $0.57 and a 52-week high of $4.03. 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 issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $0.17 million for 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, sell-side analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Institutional Trading of Ovid Therapeutics

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd raised its stake in Ovid Therapeutics by 46.2% during 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 increased its position in shares of Ovid Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after purchasing an additional 14,816 shares in the last quarter. Rhumbline Advisers lifted its holdings in Ovid Therapeutics by 22.3% during the 4th quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock valued at $79,000 after purchasing an additional 15,355 shares during the last quarter. SG Americas Securities LLC boosted 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 valued at $35,000 after buying an additional 17,172 shares in the last quarter. Finally, FMR LLC grew its stake in Ovid Therapeutics by 1,907.4% during the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after buying an additional 47,723 shares during the last quarter. 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.