Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $4.04.

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, December 4th.

Ovid Therapeutics Stock Down 9.8 %

OVID opened at $0.82 on Friday. The company has a market capitalization of $58.28 million, a PE ratio of -1.75 and a beta of 0.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The business has a 50-day moving average of $1.07 and a 200-day moving average of $1.06.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.15 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. Equities research analysts forecast that Ovid Therapeutics will post -0.48 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

Large investors have recently modified their holdings of the company. DCF Advisers LLC lifted its position in Ovid Therapeutics by 111.6% during the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after acquiring an additional 22,020 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Ovid Therapeutics by 46.2% in the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after purchasing an additional 12,076 shares during the period. FMR LLC lifted its position in shares of Ovid Therapeutics by 1,907.4% during the 3rd 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. Verition Fund Management LLC bought a new stake in Ovid Therapeutics during the 3rd quarter valued at approximately $88,000. Finally, Barclays PLC grew its holdings in Ovid Therapeutics by 311.2% in the 3rd quarter. Barclays PLC now owns 84,175 shares of the company’s stock valued at $98,000 after buying an additional 63,702 shares during the last quarter. 72.24% of the stock is owned by institutional investors.

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.