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

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have been assigned a consensus rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $3.03.

OVID has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target for the company in a research note on Wednesday, January 29th. Wedbush reissued an “outperform” rating and issued a $3.00 price objective (down from $4.00) on shares of Ovid Therapeutics in a research note on Wednesday, March 12th. Finally, BTIG Research cut their target price on Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OVID. FMR LLC raised 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 acquiring an additional 47,723 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Ovid Therapeutics by 4,128.7% in the third 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 in the last quarter. Verition Fund Management LLC bought a new stake in shares of Ovid Therapeutics in the third quarter valued at approximately $88,000. XTX Topco Ltd lifted its stake in shares of Ovid Therapeutics by 46.2% during the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after buying an additional 12,076 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Ovid Therapeutics by 311.2% in the 3rd quarter. Barclays PLC now owns 84,175 shares of the company’s stock worth $98,000 after buying an additional 63,702 shares during the period. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

OVID stock opened at $0.38 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The company’s 50-day moving average is $0.58 and its 200-day moving average is $0.91. The stock has a market capitalization of $26.93 million, a PE ratio of -0.81 and a beta of 0.29. Ovid Therapeutics has a 1 year low of $0.37 and a 1 year high of $3.45.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Tuesday, March 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.19 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. Equities research analysts expect that Ovid Therapeutics will post -0.4 EPS 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.