Ovid Therapeutics (NASDAQ:OVID) Research Coverage Started at Roth Capital

Roth Capital began coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a report published on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $3.00 target price on the stock.

OVID has been the topic of several other reports. Wall Street Zen cut Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Wednesday, October 8th. Leerink Partners initiated coverage on Ovid Therapeutics in a research report on Monday, November 17th. They set an “outperform” rating and a $5.00 price objective on the stock. HC Wainwright boosted their target price on Ovid Therapeutics from $1.50 to $2.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Finally, B. Riley reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ovid Therapeutics presently has an average rating of “Buy” and an average target price of $3.86.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $1.64 on Thursday. The company has a market capitalization of $116.78 million, a price-to-earnings ratio of -3.28 and a beta of 0.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24. Ovid Therapeutics has a one year low of $0.24 and a one year high of $2.01. The company’s 50-day moving average is $1.52 and its 200 day moving average is $1.02.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Wednesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%.The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.17 million. Sell-side analysts expect that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of large investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of Ovid Therapeutics in the first quarter worth approximately $29,000. Private Advisor Group LLC bought a new position in Ovid Therapeutics in the third quarter worth approximately $33,000. Apollon Wealth Management LLC purchased a new position in shares of Ovid Therapeutics during the 3rd quarter worth $36,000. Nuveen LLC purchased a new position in shares of Ovid Therapeutics during the 1st quarter worth $37,000. Finally, Jane Street Group LLC bought a new stake in shares of Ovid Therapeutics during the 2nd quarter valued at $47,000. 72.24% of the stock is currently 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.