Ovid Therapeutics (OVID) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Ovid Therapeutics (NASDAQ:OVID) from a hold rating to a sell rating in a research report released on Thursday.

According to Zacks, “Ovid Therapeutics Inc. is a biopharmaceutical company. It engaged in developing therapies for patients with rare neurological disorders. The company’s product pipeline consists of OV101, is currently in development for the treatment of symptoms of Angelman syndrome and Fragile X syndrome. It also involved in developing OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare epileptic encephalopathies. Ovid Therapeutics Inc. is based in New York, United States. “

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OVID has been the topic of several other research reports. ValuEngine raised Ovid Therapeutics from a sell rating to a hold rating in a research report on Monday. Piper Jaffray assumed coverage on Ovid Therapeutics in a research report on Friday, March 9th. They issued an overweight rating and a $20.00 price objective on the stock. Finally, Cowen reaffirmed a buy rating on shares of Ovid Therapeutics in a research report on Sunday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Ovid Therapeutics currently has a consensus rating of Buy and a consensus price target of $19.50.

Ovid Therapeutics stock traded down $0.16 during mid-day trading on Thursday, hitting $8.05. The company’s stock had a trading volume of 132,426 shares, compared to its average volume of 113,781. The company has a market capitalization of $168.63 and a PE ratio of -2.44. Ovid Therapeutics has a one year low of $5.28 and a one year high of $15.93.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Thursday, March 29th. The company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.06). equities analysts anticipate that Ovid Therapeutics will post -2.16 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Spark Investment Management LLC purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth $106,000. Tekla Capital Management LLC lifted its holdings in shares of Ovid Therapeutics by 229.7% in the 4th quarter. Tekla Capital Management LLC now owns 535,824 shares of the company’s stock worth $5,289,000 after buying an additional 373,287 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Ovid Therapeutics by 41.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 20,510 shares of the company’s stock worth $203,000 after buying an additional 6,010 shares during the period. Granite Point Capital Management L.P. purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth $148,000. Finally, State Street Corp purchased a new stake in shares of Ovid Therapeutics in the 2nd quarter worth $520,000. Institutional investors and hedge funds own 31.80% of the company’s stock.

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Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate that is in Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome, as well as in preclinical development stage for pediatrics with angelman syndrome.

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