Ovid Therapeutics Inc. (NASDAQ:OVID) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.04.

A number of research analysts have weighed in on OVID shares. William Blair raised Ovid Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. HC Wainwright restated a "buy" rating and issued a $3.00 price target on shares of Ovid Therapeutics in a report on Wednesday, December 4th.

Ovid Therapeutics Stock Performance

Ovid Therapeutics stock opened at $1.06 on Wednesday. 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 fifty-two week low of $0.68 and a fifty-two week high of $4.10. The stock has a fifty day moving average of $1.14 and a two-hundred day moving average of $1.21. The company has a market capitalization of $75.27 million, a price-to-earnings ratio of -2.26 and a beta of 0.29.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last announced its earnings results 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 firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. On average, analysts anticipate that Ovid Therapeutics will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

Several large investors have recently made changes to their positions in OVID. Driehaus Capital Management LLC acquired a new position in Ovid Therapeutics during the 2nd quarter worth approximately $1,077,000. BNP Paribas Financial Markets lifted its position in shares of 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 in the last quarter. GSA Capital Partners LLP grew its holdings in Ovid Therapeutics by 118.0% during the 3rd quarter. GSA Capital Partners LLP now owns 260,509 shares of the company's stock valued at $307,000 after purchasing an additional 141,002 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Ovid Therapeutics during the 3rd quarter worth $102,000. Finally, FFT Wealth Management LLC lifted its holdings in Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company's stock worth $377,000 after buying an additional 75,530 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company's stock.

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.