Oppenheimer Upgrades Ovid Therapeutics (NASDAQ:OVID) to Outperform

Oppenheimer upgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a market perform rating to an outperform rating in a report issued on Wednesday morning,Benzinga reports. Oppenheimer currently has $4.00 price target on the stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $4.03.

Ovid Therapeutics Stock Performance

OVID opened at $0.66 on Wednesday. Ovid Therapeutics has a 1-year low of $0.66 and a 1-year high of $4.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The stock’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.05. The stock has a market cap of $47.11 million, a P/E ratio of -1.41 and a beta of 0.34.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. As a group, equities analysts anticipate that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

A number of hedge funds have recently bought and sold shares of OVID. Assenagon Asset Management S.A. acquired a new position in shares of Ovid Therapeutics during the 3rd quarter valued at about $102,000. GSA Capital Partners LLP increased its position in Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after purchasing an additional 141,002 shares during the last quarter. FMR LLC increased its position in Ovid Therapeutics by 1,907.4% during the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after purchasing an additional 47,723 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after purchasing an additional 215,189 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Ovid Therapeutics in the 3rd quarter valued at $88,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

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.