Ovid Therapeutics (NASDAQ:OVID) Rating Reiterated by HC Wainwright

Ovid Therapeutics (NASDAQ:OVID)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 247.95% from the company’s previous close.

A number of other brokerages have also recently weighed in on OVID. Wedbush initiated coverage on Ovid Therapeutics in a research note on Friday, April 5th. They issued an “outperform” rating and a $8.00 price target on the stock. Oppenheimer lowered Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. B. Riley reduced their price target on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Citigroup reduced their price target on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Finally, BTIG Research reduced their price target on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.70.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $0.86 on Tuesday. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.14. The firm’s 50-day simple moving average is $2.63 and its 200 day simple moving average is $3.08. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.18. The stock has a market cap of $61.16 million, a P/E ratio of -1.18 and a beta of 0.45.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The business had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $0.11 million. Ovid Therapeutics had a negative net margin of 10,691.14% and a negative return on equity of 53.62%. Equities analysts expect that Ovid Therapeutics will post -0.81 EPS for the current year.

Institutional Trading of Ovid Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in Ovid Therapeutics in the fourth quarter valued at $26,000. Price T Rowe Associates Inc. MD boosted its stake in Ovid Therapeutics by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after purchasing an additional 3,145 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Ovid Therapeutics by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after purchasing an additional 13,756 shares in the last quarter. SG Americas Securities LLC boosted its stake in Ovid Therapeutics by 52.7% in the fourth quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after purchasing an additional 13,728 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics in the fourth quarter worth $253,000. 72.24% of the stock is currently owned by institutional investors.

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.