Ovid Therapeutics Inc. (NASDAQ:OVID) Receives $4.04 Consensus Target Price from Brokerages

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $4.04.

Several equities analysts have recently commented on OVID shares. William Blair upgraded shares of Ovid Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Ovid Therapeutics in a research note on Monday, September 30th.

Institutional Investors Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC bought a new stake in shares of Ovid Therapeutics during the second quarter worth about $1,077,000. BNP Paribas Financial Markets lifted its holdings in shares of Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company's stock worth $98,000 after purchasing an additional 13,756 shares during the period. DCF Advisers LLC grew its stake in shares of Ovid Therapeutics by 111.6% in the second quarter. DCF Advisers LLC now owns 41,750 shares of the company's stock worth $32,000 after purchasing an additional 22,020 shares during the last quarter. FFT Wealth Management LLC raised its position in Ovid Therapeutics by 18.2% during the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company's stock worth $377,000 after purchasing an additional 75,530 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics during the 3rd quarter worth about $102,000. Institutional investors own 72.24% of the company's stock.

Ovid Therapeutics Price Performance

NASDAQ:OVID traded up $0.02 during trading hours on Tuesday, reaching $1.19. 96,628 shares of the company were exchanged, compared to its average volume of 398,150. The company has a market capitalization of $84.45 million, a P/E ratio of -2.72 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.73 and a quick ratio of 5.73. The business has a 50 day moving average of $1.15 and a 200 day moving average of $1.71. Ovid Therapeutics has a 1-year low of $0.68 and a 1-year high of $4.10.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.34. The company had revenue of $0.17 million for the quarter, compared to analysts' expectations of $0.14 million. Ovid Therapeutics had a negative return on equity of 33.40% and a negative net margin of 5,237.15%. Research analysts forecast that Ovid Therapeutics will post -0.49 EPS for the current 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.