Brokerages Set Ovid Therapeutics Inc. (NASDAQ:OVID) Price Target at $4.03

Ovid Therapeutics Inc. (NASDAQ:OVID) has earned a consensus recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $4.03.

A number of equities analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Oppenheimer upgraded shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target on the stock in a research note on Wednesday, January 29th.

Hedge Funds Weigh In On Ovid Therapeutics

Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics in the 3rd quarter valued at $102,000. GSA Capital Partners LLP boosted its holdings in Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after acquiring an additional 141,002 shares during the period. FMR LLC grew its position in shares of Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after purchasing an additional 47,723 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ovid Therapeutics by 4,128.7% in 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 during the 3rd quarter worth about $88,000. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Stock Up 7.7 %

Ovid Therapeutics stock opened at $0.62 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66. Ovid Therapeutics has a 12 month low of $0.57 and a 12 month high of $4.03. The company’s fifty day simple moving average is $0.87 and its 200-day simple moving average is $1.03.

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

About Ovid Therapeutics

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.