Ovid Therapeutics (NASDAQ:OVID) Upgraded to Hold 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 note published on Saturday.

A number of other research firms have also weighed in on OVID. Wedbush boosted their target price on Ovid Therapeutics from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and issued a $2.00 price objective on shares of Ovid Therapeutics in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Thursday, January 22nd. Lifesci Capital began coverage on shares of Ovid Therapeutics in a research note on Monday, December 22nd. They issued an “outperform” rating and a $4.00 price target on the stock. Finally, Roth Mkm started coverage on shares of Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $4.38.

Ovid Therapeutics Trading Up 13.9%

Shares of NASDAQ:OVID opened at $2.62 on Friday. Ovid Therapeutics has a 52-week low of $0.24 and a 52-week high of $2.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.24 and a current ratio of 8.97. The company has a market capitalization of $186.57 million, a P/E ratio of -8.45 and a beta of 0.25. The company has a 50-day simple moving average of $1.70 and a 200 day simple moving average of $1.57.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $0.72 million for the quarter, compared to the consensus estimate of $0.06 million. Ovid Therapeutics had a negative return on equity of 23.98% and a negative net margin of 240.11%. Sell-side analysts forecast that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Benin Management CORP acquired a new stake in Ovid Therapeutics during the fourth quarter worth approximately $31,000. Private Advisor Group LLC acquired a new position in Ovid Therapeutics in the 3rd quarter valued at $33,000. Apollon Wealth Management LLC bought a new stake in shares of Ovid Therapeutics during the 3rd quarter valued at $36,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Ovid Therapeutics during the 4th quarter valued at $47,000. Finally, Jane Street Group LLC acquired a new stake in shares of Ovid Therapeutics during the 2nd quarter worth $47,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.