Ovid Therapeutics (NASDAQ:OVID) Stock Has Consensus Target Price of $6.12 According to Analysts

Key Points

• Analysts rate Ovid Therapeutics “Moderate Buy,” with 10 buy ratings, one strong buy, and one sell among 12 analysts. The average 12-month price target is $6.12, compared with the stock’s recent $2.46 price.
• Several firms recently initiated coverage or raised their targets, including Oppenheimer to $9, Guggenheim at $7, and HC Wainwright to $5.
• Institutional investors own 72.24% of Ovid’s shares, while the company’s latest quarterly results beat expectations with an adjusted loss of $0.08 per share versus the $0.12 consensus estimate.

Shares of Ovid Therapeutics (NASDAQ:OVID - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $6.12.

OVID has been the topic of a number of recent research reports. Cantor Fitzgerald began coverage on shares of Ovid Therapeutics in a research note on Friday. They issued an "overweight" rating on the stock. HC Wainwright upped their target price on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Friday, September 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Oppenheimer increased their price target on Ovid Therapeutics from $7.00 to $9.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Finally, Guggenheim started coverage on Ovid Therapeutics in a research report on Tuesday, October 6th. They issued a "buy" rating and a $7.00 price target on the stock.

Institutional Trading of Ovid Therapeutics

A number of large investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in shares of Ovid Therapeutics in the second quarter worth about $40,000. E Fund Management Co. Ltd. bought a new position in shares of Ovid Therapeutics during the 2nd quarter valued at about $52,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Ovid Therapeutics during the 2nd quarter valued at about $54,000. Sovereign Financial Group Inc. lifted its holdings in shares of Ovid Therapeutics by 200.0% during the 1st quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company's stock valued at $67,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Stonepine Capital Management LLC acquired a new position in shares of Ovid Therapeutics in the 2nd quarter valued at approximately $57,297. Institutional investors own 72.24% of the company's stock.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $2.46 on Monday. The firm has a market capitalization of $480.43 million, a PE ratio of -7.94 and a beta of 0.22. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05. Ovid Therapeutics has a 1 year low of $1.18 and a 1 year high of $3.11. The firm's 50-day moving average is $2.65 and its 200-day moving average is $2.57.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.04. The business had revenue of $0.73 million for the quarter, compared to analyst estimates of $0.02 million. Equities analysts expect that Ovid Therapeutics will post -0.37 EPS for the current year.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare neurological disorders, including epilepsies and neurodevelopmental conditions. The company's research programs are designed to address diseases with significant unmet medical needs and limited treatment options.

Ovid has developed a pipeline of investigational therapies targeting the underlying biology of neurological disorders. Its programs have included treatments for seizure disorders such as Dravet syndrome and Lennox-Gastaut syndrome, as well as potential therapies for other rare epileptic and neurodevelopmental conditions.

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