Ovid Therapeutics Inc. (NASDAQ:OVID) Receives Average Recommendation of "Moderate Buy" from Analysts

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

Separately, HC Wainwright reissued a "buy" rating and set a $3.00 price target on shares of Ovid Therapeutics in a report on Wednesday, December 4th.

Ovid Therapeutics Price Performance

OVID stock traded down $0.09 during trading on Friday, hitting $0.82. 1,929,086 shares of the stock traded hands, compared to its average volume of 458,398. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.10. The stock has a market cap of $58.28 million, a price-to-earnings ratio of -1.75 and a beta of 0.34. The company has a 50 day simple moving average of $1.07 and a 200 day simple moving average of $1.07. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $0.15 million. Equities analysts expect that Ovid Therapeutics will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Ovid Therapeutics

Institutional investors have recently modified their holdings of the business. DCF Advisers LLC grew its holdings in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company's stock valued at $32,000 after purchasing an additional 22,020 shares during the period. XTX Topco Ltd grew its holdings in Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company's stock valued at $45,000 after purchasing an additional 12,076 shares during the period. FMR LLC grew its holdings in Ovid Therapeutics by 1,907.4% during 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 period. Verition Fund Management LLC acquired a new position in Ovid Therapeutics during the third quarter valued at approximately $88,000. Finally, Barclays PLC grew its holdings in Ovid Therapeutics by 311.2% during the third quarter. Barclays PLC now owns 84,175 shares of the company's stock valued at $98,000 after purchasing an additional 63,702 shares during the period. 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.