Ovid Therapeutics (NASDAQ:OVID) Upgraded at Wall Street Zen

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

OVID has been the subject of a number of other reports. Wedbush reissued an “outperform” rating and issued a $7.00 price target on shares of Ovid Therapeutics in a report on Wednesday, April 15th. BTIG Research restated a “buy” rating and set a $4.00 price objective on shares of Ovid Therapeutics in a report on Thursday, March 26th. HC Wainwright upped their price objective on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Roth Mkm reiterated a “buy” rating and issued a $7.00 target price on shares of Ovid Therapeutics in a research note on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.12.

Ovid Therapeutics Stock Up 5.4%

OVID opened at $2.55 on Friday. Ovid Therapeutics has a 1-year low of $0.30 and a 1-year high of $3.11. The company has a current ratio of 10.17, a quick ratio of 10.17 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $475.93 million, a price-to-earnings ratio of -8.79 and a beta of 0.16. The business has a 50 day moving average of $2.55 and a 200-day moving average of $2.09.

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

Institutional Investors Weigh In On Ovid Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Benin Management CORP acquired a new position in shares of Ovid Therapeutics in the 4th quarter valued at $31,000. Private Advisor Group LLC bought a new position in shares of Ovid Therapeutics during the 3rd quarter worth about $33,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Ovid Therapeutics during the 4th quarter valued at about $47,000. Jane Street Group LLC acquired a new stake in shares of Ovid Therapeutics during the 2nd quarter valued at about $47,000. Finally, State of Wyoming bought a new stake in Ovid Therapeutics in the first quarter valued at about $49,000. Institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

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.