Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.04 Consensus Target Price from Brokerages

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.04.

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $0.76 on Friday. Ovid Therapeutics has a 52 week low of $0.68 and a 52 week high of $4.10. The firm’s 50-day simple moving average is $1.05 and its 200 day simple moving average is $1.07. The firm has a market cap of $53.75 million, a price-to-earnings ratio of -1.61 and a beta of 0.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. As a group, sell-side analysts predict that Ovid Therapeutics will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OVID. Driehaus Capital Management LLC purchased a new position in Ovid Therapeutics during the second quarter valued at $1,077,000. BNP Paribas Financial Markets grew its position in Ovid Therapeutics by 4,128.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after purchasing an additional 215,189 shares during the period. GSA Capital Partners LLP raised its stake in Ovid Therapeutics by 118.0% during the 3rd quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after buying an additional 141,002 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Ovid Therapeutics in the third quarter worth $102,000. Finally, Verition Fund Management LLC bought a new position in Ovid Therapeutics in the third quarter valued at about $88,000. 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.