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

Shares of Ovid Therapeutics (NASDAQ:OVID) have received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.1250.

A number of analysts recently weighed in on OVID shares. HC Wainwright upped their price target on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Tuesday, April 21st. Roth Mkm restated a “buy” rating and set a $7.00 price objective on shares of Ovid Therapeutics in a research note on Thursday, May 14th. BTIG Research reaffirmed a “buy” rating and issued a $4.00 target price on shares of Ovid Therapeutics in a research report on Thursday, March 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $7.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, April 15th.

Institutional Trading of Ovid Therapeutics

Several large investors have recently bought and sold shares of OVID. Benin Management CORP acquired a new stake in Ovid Therapeutics in the fourth quarter valued at approximately $31,000. Private Advisor Group LLC acquired a new position in shares of Ovid Therapeutics during the third quarter worth $33,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Ovid Therapeutics in the fourth quarter valued at $47,000. Jane Street Group LLC purchased a new position in shares of Ovid Therapeutics in the second quarter valued at $47,000. Finally, State of Wyoming acquired a new stake in Ovid Therapeutics during the 1st quarter valued at $49,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

OVID opened at $2.69 on Friday. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.06. Ovid Therapeutics has a 52-week low of $0.33 and a 52-week high of $3.11. The company has a 50 day moving average of $2.54 and a two-hundred day moving average of $2.13. The company has a market cap of $502.06 million, a P/E ratio of -9.28 and a beta of 0.18.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 22.51%. On average, analysts expect that Ovid Therapeutics will post -0.5 earnings per share for the current year.

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.