Ovid Therapeutics (NASDAQ:OVID) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Ovid Therapeutics (NASDAQ:OVID) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.00.

A number of research analysts have issued reports on OVID shares. HC Wainwright upped their price objective on Ovid Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Cantor Fitzgerald assumed coverage on shares of Ovid Therapeutics in a research note on Friday, October 9th. They set an “overweight” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Thursday, October 15th. Guggenheim initiated coverage on Ovid Therapeutics in a research report on Tuesday, October 6th. They set a “buy” rating and a $7.00 price target on the stock. Finally, Oppenheimer boosted their price objective on Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd.

Institutional Investors Weigh In On Ovid Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Braidwell LP bought a new position in shares of Ovid Therapeutics in the second quarter valued at approximately $15,923,000. BlackRock Inc. bought a new position in Ovid Therapeutics in the 2nd quarter valued at $29,115,000. Jupiter Topco LLC purchased a new position in shares of Ovid Therapeutics during the 2nd quarter valued at $55,898,000. Ally Bridge Group NY LLC grew its position in shares of Ovid Therapeutics by 57.9% during the 1st quarter. Ally Bridge Group NY LLC now owns 2,818,459 shares of the company’s stock valued at $6,257,000 after purchasing an additional 1,033,459 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Ovid Therapeutics in the second quarter worth $1,120,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

NASDAQ OVID opened at $2.55 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.97 and a quick ratio of 12.39. The business has a fifty day simple moving average of $2.51 and a 200 day simple moving average of $2.40. Ovid Therapeutics has a 12 month low of $1.18 and a 12 month high of $3.11.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, November 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). As a group, equities research analysts expect that Ovid Therapeutics will post -0.37 earnings per share for the current fiscal year.

About Ovid Therapeutics

Ovid Therapeutics Inc. is a biopharmaceutical company focused on developing medicines for epilepsies and other neurological disorders. Its work targets conditions with significant unmet treatment needs, including rare and difficult-to-treat seizure disorders. The company’s lead development program, OV329, is an investigational GABA aminotransferase inhibitor being studied as a potential treatment for seizures, including infantile spasms and focal-onset seizures. Ovid’s pipeline and research programs may change as clinical development progresses.