Ovid Therapeutics (NASDAQ:OVID) Price Target Lowered to $4.00 at BTIG Research

Ovid Therapeutics (NASDAQ:OVID) had its price target lowered by BTIG Research from $5.00 to $4.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. Wedbush restated an “outperform” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Ovid Therapeutics in a research report on Wednesday, March 12th. Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target on the stock in a research report on Wednesday, January 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ovid Therapeutics currently has an average rating of “Buy” and a consensus target price of $3.03.

Ovid Therapeutics Price Performance

Ovid Therapeutics stock opened at $0.44 on Monday. 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 $31.58 million, a P/E ratio of -0.95 and a beta of 0.29. The business has a 50-day moving average of $0.60 and a 200-day moving average of $0.92. Ovid Therapeutics has a 1 year low of $0.42 and a 1 year high of $3.45.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, March 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.19 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. On average, equities analysts anticipate that Ovid Therapeutics will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Ovid Therapeutics by 83.9% during the 4th 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 in the last quarter. XTX Topco Ltd boosted its holdings in Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after purchasing an additional 12,076 shares during the last quarter. Bank of America Corp DE grew its position 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 valued at $53,000 after purchasing an additional 18,841 shares in the last quarter. FMR LLC increased its stake in Ovid Therapeutics by 1,907.4% in the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after buying an additional 47,723 shares during the last quarter. Finally, Velan Capital Investment Management LP bought a new stake in Ovid Therapeutics during the 4th quarter worth about $65,000. 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.