Ovid Therapeutics (NASDAQ:OVID) Research Coverage Started at B. Riley

B. Riley assumed coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a report issued on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $9.00 price target on the stock. B. Riley also issued estimates for Ovid Therapeutics’ Q1 2024 earnings at ($0.26) EPS, Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.07) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.85) EPS and FY2027 earnings at ($0.68) EPS.

Several other research analysts have also recently issued reports on OVID. HC Wainwright initiated coverage on shares of Ovid Therapeutics in a report on Monday. They set a buy rating and a $9.00 price target for the company. Wedbush initiated coverage on Ovid Therapeutics in a research note on Friday, April 5th. They set an outperform rating and a $8.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ovid Therapeutics has a consensus rating of Buy and a consensus price target of $9.00.

Ovid Therapeutics Stock Performance

Shares of NASDAQ:OVID traded down $0.01 during trading on Tuesday, reaching $3.06. The company had a trading volume of 77,108 shares, compared to its average volume of 192,210. Ovid Therapeutics has a fifty-two week low of $2.57 and a fifty-two week high of $4.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 9.55 and a quick ratio of 9.55. The stock’s fifty day moving average price is $3.14 and its 200 day moving average price is $3.33. The firm has a market capitalization of $216.68 million, a price-to-earnings ratio of -4.08 and a beta of 0.69.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Friday, March 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%. The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.10 million. As a group, equities research analysts predict that Ovid Therapeutics will post -0.73 EPS for the current year.

Insider Activity at Ovid Therapeutics

In related news, CEO Jeremy M. Levin bought 18,248 shares of the stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $2.76 per share, for a total transaction of $50,364.48. Following the completion of the transaction, the chief executive officer now owns 3,616,715 shares of the company’s stock, valued at approximately $9,982,133.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.60% of the company’s stock.

Institutional Trading of Ovid Therapeutics

A number of institutional investors have recently bought and sold shares of OVID. SG Americas Securities LLC acquired a new position in shares of Ovid Therapeutics during the 3rd quarter worth $100,000. Jump Financial LLC purchased a new position in Ovid Therapeutics during the 3rd quarter valued at about $61,000. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 acquiring an additional 11,926 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Ovid Therapeutics in the fourth quarter valued at approximately $253,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Ovid Therapeutics in the fourth quarter valued at approximately $26,000. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

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.