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

Ovid Therapeutics Inc. (NASDAQ:OVID) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.70.

Several analysts have recently issued reports on the company. Citigroup reduced their price objective 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. B. Riley reduced their price objective on Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Oppenheimer cut Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. Wedbush assumed coverage on Ovid Therapeutics in a research note on Friday, April 5th. They issued an “outperform” rating and a $8.00 price objective on the stock. Finally, BTIG Research reduced their price objective on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th.

Ovid Therapeutics Stock Down 10.3 %

NASDAQ:OVID opened at $0.77 on Wednesday. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $2.54 and its two-hundred day moving average is $3.04. Ovid Therapeutics has a 52 week low of $0.68 and a 52 week high of $4.14. The stock has a market capitalization of $54.86 million, a price-to-earnings ratio of -1.06 and a beta of 0.45.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. Ovid Therapeutics had a negative return on equity of 53.62% and a negative net margin of 10,691.14%. The company had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $0.11 million. Research analysts anticipate that Ovid Therapeutics will post -0.81 EPS for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Large investors have recently bought and sold shares of the business. FFT Wealth Management LLC purchased a new position in Ovid Therapeutics in the fourth quarter valued at $1,274,000. Assenagon Asset Management S.A. grew its holdings in shares of Ovid Therapeutics by 45.6% during the first quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock worth $349,000 after purchasing an additional 35,786 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Ovid Therapeutics during the fourth quarter worth about $26,000. SG Americas Securities LLC grew its holdings in shares of Ovid Therapeutics by 52.7% during the fourth quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after purchasing an additional 13,728 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Ovid Therapeutics by 17.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock worth $312,000 after purchasing an additional 11,926 shares during the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

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.