Brokerages Set Ovid Therapeutics Inc. (NASDAQ:OVID) PT at $4.04

Ovid Therapeutics Inc. (NASDAQ:OVID) has received an average rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $4.04.

A number of equities research analysts have weighed in on OVID shares. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research report on Monday, September 30th. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th.

Ovid Therapeutics Trading Up 4.8 %

Shares of Ovid Therapeutics stock opened at $1.10 on Friday. The firm has a fifty day moving average price of $1.15 and a 200 day moving average price of $1.43. The stock has a market cap of $78.11 million, a PE ratio of -2.34 and a beta of 0.41. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.15 million. Equities research analysts predict that Ovid Therapeutics will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OVID. DCF Advisers LLC increased its stake in Ovid Therapeutics by 111.6% in the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after purchasing an additional 22,020 shares in the last quarter. XTX Topco Ltd raised its stake in Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after purchasing an additional 12,076 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after purchasing an additional 3,145 shares during the period. FMR LLC raised its stake in shares of 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. Finally, Verition Fund Management LLC purchased a new stake in Ovid Therapeutics during the 3rd quarter worth $88,000. 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.