Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.04 Consensus PT from Analysts

Ovid Therapeutics Inc. (NASDAQ:OVID) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.04.

Several research firms have recently issued reports on OVID. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Monday, September 30th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Ovid Therapeutics by 311.2% in the third quarter. Barclays PLC now owns 84,175 shares of the company’s stock valued at $98,000 after acquiring an additional 63,702 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ovid Therapeutics by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after purchasing an additional 14,816 shares during the last quarter. XTX Topco Ltd increased its stake in Ovid Therapeutics by 46.2% in the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after buying an additional 12,076 shares during the period. Verition Fund Management LLC bought a new stake in Ovid Therapeutics during the 3rd quarter valued at about $88,000. Finally, BNP Paribas Financial Markets increased its position in shares of Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after acquiring an additional 215,189 shares during the period. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Trading Up 4.8 %

Shares of Ovid Therapeutics stock opened at $1.10 on Friday. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $1.15 and its 200-day moving average is $1.43. The stock has a market cap of $78.11 million, a P/E ratio of -2.34 and a beta of 0.41. Ovid Therapeutics has a 12-month low of $0.68 and a 12-month high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The firm had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.15 million. Equities research analysts predict that Ovid Therapeutics will post -0.49 earnings per share for the current fiscal year.

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.