BTIG Research Issues Pessimistic Forecast for Ovid Therapeutics (NASDAQ:OVID) Stock Price

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

Several other equities analysts have also weighed in on the company. Wedbush restated an “outperform” rating and set a $3.00 target price (down from $4.00) on shares of Ovid Therapeutics in a report on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. Finally, Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a research note on Wednesday, January 29th. One equities research 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. According to data from MarketBeat, Ovid Therapeutics currently has an average rating of “Buy” and a consensus price target of $3.03.

Ovid Therapeutics Price Performance

Shares of NASDAQ:OVID 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. Ovid Therapeutics has a 1 year low of $0.42 and a 1 year high of $3.45. The business has a fifty day simple moving average of $0.61 and a 200 day simple moving average of $0.93. The firm has a market cap of $30.92 million, a price-to-earnings ratio of -0.93 and a beta of 0.29.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.19 million. As a group, sell-side analysts predict that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OVID. SG Americas Securities LLC boosted its holdings in shares of Ovid Therapeutics by 83.9% in 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 shares of 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 acquiring an additional 12,076 shares in the last quarter. Bank of America Corp DE raised its position in Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after purchasing an additional 18,841 shares during the last quarter. FMR LLC raised its position in Ovid Therapeutics by 1,907.4% in the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after purchasing an additional 47,723 shares during the last quarter. Finally, Velan Capital Investment Management LP bought a new position in Ovid Therapeutics in the 4th quarter worth approximately $65,000. 72.24% of the stock is owned by institutional investors and hedge funds.

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.