Ovid Therapeutics (NASDAQ:OVID) Given New $3.00 Price Target at HC Wainwright

Ovid Therapeutics (NASDAQ:OVID) had its target price reduced by HC Wainwright from $9.00 to $3.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

OVID has been the subject of a number of other research reports. Citigroup decreased their price target on shares of Ovid Therapeutics from $4.00 to $3.50 and set a neutral rating for the company in a research note on Tuesday, May 7th. B. Riley assumed coverage on shares of Ovid Therapeutics in a research note on Tuesday, April 30th. They issued a buy rating and a $9.00 price target for the company. Oppenheimer downgraded shares of Ovid Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday. Finally, Wedbush assumed coverage on shares of Ovid Therapeutics in a research report on Friday, April 5th. They set an outperform rating and a $8.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $4.70.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $0.79 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.47 and a current ratio of 10.47. The stock has a market capitalization of $55.89 million, a P/E ratio of -1.08 and a beta of 0.59. The company has a 50 day moving average price of $3.02 and a 200 day moving average price of $3.23. Ovid Therapeutics has a fifty-two week low of $0.75 and a fifty-two week high of $4.14.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. Ovid Therapeutics had a negative net margin of 10,691.14% and a negative return on equity of 53.62%. The company had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.11 million. Equities research analysts predict that Ovid Therapeutics will post -0.85 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

Several institutional investors have recently modified their holdings of the stock. FFT Wealth Management LLC purchased a new stake in shares of Ovid Therapeutics during the 4th quarter worth approximately $1,274,000. Empowered Funds LLC increased its holdings in shares of Ovid Therapeutics by 8.1% in the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after acquiring an additional 9,625 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Ovid Therapeutics by 45.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock valued at $349,000 after acquiring an additional 35,786 shares during the period. Vestal Point Capital LP acquired a new position in shares of Ovid Therapeutics in the 4th quarter valued at $275,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Ovid Therapeutics by 17.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock valued at $312,000 after acquiring an additional 11,926 shares during the period. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.