Ovid Therapeutics (NASDAQ:OVID) Stock Rating Reaffirmed by HC Wainwright

Ovid Therapeutics (NASDAQ:OVID)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 299.10% from the company’s previous close.

OVID has been the topic of a number of other research reports. Oppenheimer lowered shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. BTIG Research dropped their target price on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. B. Riley dropped their target price on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Citigroup lowered their price target on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Finally, Wedbush began coverage on shares of Ovid Therapeutics in a report on Friday, April 5th. They issued an “outperform” rating and a $8.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ovid Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $4.70.

Ovid Therapeutics Trading Down 2.8 %

Shares of OVID stock opened at $0.75 on Tuesday. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.14. The firm’s fifty day simple moving average is $2.49 and its 200 day simple moving average is $3.03. The firm has a market capitalization of $53.33 million, a P/E ratio of -1.03 and a beta of 0.45. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18.

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

Institutional Investors Weigh In On Ovid Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of OVID. Price T Rowe Associates Inc. MD boosted its stake in shares of Ovid Therapeutics by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after purchasing an additional 3,145 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Ovid Therapeutics by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after purchasing an additional 5,401 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Ovid Therapeutics by 8.1% in the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after purchasing an additional 9,625 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Ovid Therapeutics by 17.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock valued at $312,000 after purchasing an additional 11,926 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Ovid Therapeutics by 52.7% in the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock valued at $128,000 after purchasing an additional 13,728 shares in the last quarter. Institutional investors own 72.24% of the company’s stock.

About Ovid Therapeutics

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.