HC Wainwright Issues Pessimistic Forecast for Ovid Therapeutics (NASDAQ:OVID) Stock Price

Ovid Therapeutics (NASDAQ:OVID) had its price objective reduced by investment analysts at HC Wainwright from $2.00 to $1.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 415.82% from the stock’s current price.

A number of other research firms also recently weighed in on OVID. Oppenheimer raised 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. William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a report on Thursday, April 24th. Wedbush reiterated an “outperform” rating and issued a $3.00 target price (down from $4.00) on shares of Ovid Therapeutics in a research note on Wednesday, March 12th. Finally, BTIG Research decreased their target price on shares of Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $2.78.

Ovid Therapeutics Stock Down 0.2%

Ovid Therapeutics stock opened at $0.29 on Tuesday. Ovid Therapeutics has a twelve month low of $0.24 and a twelve month high of $3.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66. The firm has a market cap of $20.68 million, a PE ratio of -0.62 and a beta of 0.27. The firm’s 50 day moving average price is $0.31 and its two-hundred day moving average price is $0.64.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The business had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $0.03 million. On average, research analysts predict that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in Ovid Therapeutics during the first quarter worth approximately $29,000. SG Americas Securities LLC lifted its stake in shares of 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 buying an additional 17,172 shares during the last quarter. Nuveen LLC bought a new stake in shares of Ovid Therapeutics during the 1st quarter worth $37,000. Bank of America Corp DE grew its stake in Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after buying an additional 18,841 shares during the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in Ovid Therapeutics in the 4th quarter valued at $65,000. 72.24% of the stock is owned by institutional investors.

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.