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

Ovid Therapeutics Inc. (NASDAQ:OVID - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $4.04.

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

Ovid Therapeutics Stock Performance

Shares of Ovid Therapeutics stock traded down $0.01 during trading hours on Friday, hitting $1.05. 162,093 shares of the company were exchanged, compared to its average volume of 252,643. The business has a 50-day moving average of $1.16 and a 200-day moving average of $1.46. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.10. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $74.56 million, a price-to-earnings ratio of -2.23 and a beta of 0.41.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share 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 business had revenue of $0.17 million during the quarter, compared to analysts' expectations of $0.15 million. As a group, analysts expect that Ovid Therapeutics will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of Ovid Therapeutics by 74.7% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in Ovid Therapeutics by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company's stock worth $54,000 after buying an additional 3,145 shares in the last quarter. FFT Wealth Management LLC raised its holdings in shares of Ovid Therapeutics by 18.2% in the second quarter. FFT Wealth Management LLC now owns 489,552 shares of the company's stock worth $377,000 after acquiring an additional 75,530 shares during the last quarter. DCF Advisers LLC raised its holdings 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 acquiring an additional 22,020 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Ovid Therapeutics in the second quarter valued at $1,077,000. 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.