Ovid Therapeutics (NASDAQ:OVID) Upgraded to “Hold” at Wall Street Zen

Ovid Therapeutics (NASDAQ:OVID) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

OVID has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Wednesday, October 8th. B. Riley reissued a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, October 10th. HC Wainwright restated a “buy” rating and set a $2.00 price objective on shares of Ovid Therapeutics in a research note on Monday, December 22nd. Roth Capital started coverage on Ovid Therapeutics in a research report on Thursday, December 11th. They set a “buy” rating and a $3.00 price objective on the stock. Finally, Oppenheimer started coverage on Ovid Therapeutics in a research note on Thursday, October 9th. They issued an “outperform” rating and a $7.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ovid Therapeutics has an average rating of “Buy” and a consensus target price of $3.88.

Ovid Therapeutics Stock Performance

OVID opened at $1.78 on Friday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.10. The company has a market capitalization of $126.75 million, a P/E ratio of -3.56 and a beta of 0.04. Ovid Therapeutics has a 52 week low of $0.24 and a 52 week high of $2.01.

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

Institutional Investors Weigh In On Ovid Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Ovid Therapeutics during the third quarter worth about $1,148,000. Rosalind Advisors Inc. acquired a new stake in Ovid Therapeutics in the 2nd quarter worth approximately $165,000. Assenagon Asset Management S.A. grew its position in Ovid Therapeutics by 112.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock worth $1,202,000 after purchasing an additional 488,956 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Ovid Therapeutics during the 3rd quarter valued at approximately $633,000. Finally, Bank of America Corp DE increased its stake in Ovid Therapeutics by 2,333.0% during the 3rd quarter. Bank of America Corp DE now owns 362,707 shares of the company’s stock valued at $472,000 after purchasing an additional 347,799 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.