Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.04.

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

Institutional Trading of Ovid Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Driehaus Capital Management LLC purchased a new stake in Ovid Therapeutics in the 2nd quarter worth about $1,077,000. Geode Capital Management LLC lifted its position 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 in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after purchasing an additional 141,002 shares during the period. BNP Paribas Financial Markets grew its position in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after purchasing an additional 215,189 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics in the 3rd quarter valued at approximately $102,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $0.82 on Friday. Ovid Therapeutics has a twelve month low of $0.68 and a twelve month high of $4.10. 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 50-day moving average of $1.07 and a two-hundred day moving average of $1.06. The company has a market capitalization of $58.28 million, a price-to-earnings ratio of -1.75 and a beta of 0.34.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 net margin of 5,142.56% and a negative return on equity of 39.24%. As a group, analysts expect that Ovid Therapeutics will post -0.48 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.