Ovid Therapeutics (NASDAQ:OVID) Given Buy Rating at HC Wainwright

by · The Markets Daily

Ovid Therapeutics (NASDAQ:OVID – Get Free Report)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $3.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 167.86% from the company’s previous close.

OVID has been the topic of several other reports. BTIG Research lowered their price objective on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Citigroup lowered their price target on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. Finally, B. Riley reduced their target price on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ovid Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $4.70.

Read Our Latest Analysis on Ovid Therapeutics

Ovid Therapeutics Stock Down 5.1 %

Ovid Therapeutics stock opened at $1.12 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.73 and a quick ratio of 5.73. The stock has a market capitalization of $79.46 million, a PE ratio of -1.53 and a beta of 0.42. The business has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.96. Ovid Therapeutics has a 12 month low of $0.68 and a 12 month high of $4.10.

Ovid Therapeutics (NASDAQ:OVID – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. The company had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. On average, analysts anticipate that Ovid Therapeutics will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OVID. Driehaus Capital Management LLC purchased a new position in Ovid Therapeutics in the second quarter worth approximately $1,077,000. Vestal Point Capital LP acquired a new position in shares of Ovid Therapeutics in the 4th quarter valued at $275,000. FFT Wealth Management LLC grew its holdings in shares of Ovid Therapeutics by 18.2% during the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after purchasing an additional 75,530 shares during the period. DCF Advisers LLC increased its position in shares of Ovid Therapeutics by 111.6% during the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after purchasing an additional 22,020 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Ovid Therapeutics by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after buying an additional 13,756 shares during the period. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

(Get Free Report)

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.

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