Ovid Therapeutics (NASDAQ:OVID) Stock Rating Lowered by Wall Street Zen

Ovid Therapeutics (NASDAQ:OVID) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, April 15th. HC Wainwright increased their price objective on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Ovid Therapeutics in a report on Thursday, March 26th. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a report on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Ovid Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $5.13.

Ovid Therapeutics Stock Up 4.1%

Shares of NASDAQ:OVID opened at $2.30 on Friday. The stock has a market capitalization of $429.27 million, a price-to-earnings ratio of -7.93 and a beta of 0.16. Ovid Therapeutics has a 1-year low of $0.27 and a 1-year high of $3.11. The company’s fifty day moving average is $2.60 and its two-hundred day moving average is $2.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.17 and a current ratio of 10.17.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share 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%. Equities analysts anticipate that Ovid Therapeutics will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Hedge funds have recently made changes to their positions in the business. Benin Management CORP acquired a new position in shares of Ovid Therapeutics in the 4th quarter worth approximately $31,000. State of Wyoming acquired a new position in shares of Ovid Therapeutics in the 1st quarter worth approximately $49,000. Private Advisor Group LLC acquired a new position in shares of Ovid Therapeutics in the 3rd quarter worth approximately $33,000. Total Clarity Wealth Management Inc. acquired a new position in shares of Ovid Therapeutics in the 4th quarter worth approximately $47,000. Finally, Sovereign Financial Group Inc. grew its stake in shares of Ovid Therapeutics by 200.0% in the 1st quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company’s stock worth $67,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds 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.