Ovid Therapeutics (NASDAQ:OVID) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other brokerages also recently commented on OVID. Roth Capital reissued a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research note on Thursday, May 14th. Oppenheimer lifted their price target on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.71.

Ovid Therapeutics Trading Up 2.1%

Shares of OVID stock opened at $2.89 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.39 and a current ratio of 12.39. Ovid Therapeutics has a fifty-two week low of $0.84 and a fifty-two week high of $3.11. The company has a market cap of $564.42 million, a PE ratio of -9.32 and a beta of 0.21. The stock’s fifty day moving average price is $2.49 and its two-hundred day moving average price is $2.32.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. The business had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.02 million. Ovid Therapeutics had a negative return on equity of 23.64% and a negative net margin of 240.11%. Equities analysts predict that Ovid Therapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Ovid Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of OVID. Legal & General Group Plc acquired a new stake in shares of Ovid Therapeutics during the second quarter valued at about $40,000. LPL Financial LLC raised its holdings in Ovid Therapeutics by 150.0% in the 4th quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock valued at $49,000 after buying an additional 18,000 shares during the last quarter. Bank of America Corp DE boosted its position in Ovid Therapeutics by 49.7% during the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after buying an additional 18,841 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Ovid Therapeutics during the 2nd quarter worth approximately $52,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Ovid Therapeutics during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.