Ovid Therapeutics (NASDAQ:OVID) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Ovid Therapeutics (NASDAQ:OVID) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.1250.

OVID has been the subject of several research reports. BTIG Research reiterated a “buy” rating and set a $4.00 price target on shares of Ovid Therapeutics in a research note on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Tuesday, April 21st. Wedbush restated an “outperform” rating and issued a $7.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, April 15th. Roth Mkm restated a “buy” rating and issued a $7.00 target price on shares of Ovid Therapeutics in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st.

Ovid Therapeutics Stock Down 1.7%

OVID stock opened at $2.36 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.17 and a current ratio of 10.17. The company has a market capitalization of $440.47 million, a price-to-earnings ratio of -8.14 and a beta of 0.16. Ovid Therapeutics has a fifty-two week low of $0.27 and a fifty-two week high of $3.11. The stock has a fifty day moving average of $2.59 and a 200-day moving average of $2.02.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). Ovid Therapeutics had a negative return on equity of 22.51% and a negative net margin of 240.11%. As a group, equities research analysts predict that Ovid Therapeutics will post -0.5 earnings per share for the current year.

Institutional Trading of Ovid Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in shares of Ovid Therapeutics by 49.0% in the 1st quarter. Bank of America Corp DE now owns 290,432 shares of the company’s stock valued at $645,000 after acquiring an additional 95,532 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Ovid Therapeutics in the 1st quarter worth approximately $23,732,000. Ally Bridge Group NY LLC lifted its position in Ovid Therapeutics by 57.9% in the 1st quarter. Ally Bridge Group NY LLC now owns 2,818,459 shares of the company’s stock worth $6,257,000 after buying an additional 1,033,459 shares during the last quarter. ADAR1 Capital Management LLC lifted its position in Ovid Therapeutics by 6.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 4,544,113 shares of the company’s stock worth $10,088,000 after buying an additional 259,113 shares during the last quarter. Finally, Affinity Asset Advisors LLC lifted its position in Ovid Therapeutics by 48.8% in the 1st quarter. Affinity Asset Advisors LLC now owns 10,636,318 shares of the company’s stock worth $23,613,000 after buying an additional 3,486,318 shares during the last quarter. Hedge funds and other institutional investors 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.