Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.03 Consensus Target Price from Brokerages

Ovid Therapeutics Inc. (NASDAQ:OVID) has been given an average rating of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.03.

Several brokerages have recently commented on OVID. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research note on Wednesday, January 29th.

Ovid Therapeutics Stock Down 1.5 %

Shares of NASDAQ OVID opened at $0.50 on Monday. Ovid Therapeutics has a 12 month low of $0.47 and a 12 month high of $3.45. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $35.68 million, a price-to-earnings ratio of -1.07 and a beta of 0.30. The business has a 50-day moving average of $0.72 and a 200-day moving average of $0.99.

Institutional Trading of Ovid Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in Ovid Therapeutics by 83.9% in the fourth quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after acquiring an additional 17,172 shares during the period. XTX Topco Ltd lifted its stake in Ovid Therapeutics by 46.2% in the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after acquiring an additional 12,076 shares during the period. Bank of America Corp DE lifted its stake in Ovid Therapeutics by 49.7% in the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after acquiring an additional 18,841 shares during the period. FMR LLC lifted its stake in Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after acquiring an additional 47,723 shares during the period. Finally, Velan Capital Investment Management LP purchased a new stake in Ovid Therapeutics in the fourth quarter worth $65,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

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.