Ovid Therapeutics Inc. (NASDAQ:OVID) Receives Average Rating of “Moderate Buy” from Analysts

Ovid Therapeutics Inc. (NASDAQ:OVID) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.04.

OVID has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a report on Wednesday, December 4th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a report on Friday, August 30th.

Ovid Therapeutics Price Performance

Shares of OVID opened at $0.97 on Wednesday. The stock has a market cap of $68.62 million, a P/E ratio of -2.06 and a beta of 0.29. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.10. The stock’s 50-day moving average price is $1.13 and its two-hundred day moving average price is $1.15. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share 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. On average, equities analysts predict that Ovid Therapeutics will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Ovid Therapeutics

Large investors have recently modified their holdings of the business. XTX Topco Ltd raised its holdings 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 acquiring an additional 12,076 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ovid Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after purchasing an additional 14,816 shares in the last quarter. DCF Advisers LLC boosted its holdings in shares of 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 buying an additional 22,020 shares during the last quarter. FMR LLC boosted its holdings 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 buying an additional 47,723 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Ovid Therapeutics by 311.2% in the third quarter. Barclays PLC now owns 84,175 shares of the company’s stock valued at $98,000 after buying an additional 63,702 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.