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

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.08.

Several equities analysts have issued reports on OVID shares. B. Riley started coverage on Ovid Therapeutics in a research note on Tuesday, April 30th. They issued a "buy" rating and a $9.00 target price on the stock. Wedbush began coverage on Ovid Therapeutics in a research note on Friday, April 5th. They set an "outperform" rating and a $8.00 price objective for the company. Citigroup lowered their target price on shares of Ovid Therapeutics from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, HC Wainwright started coverage on shares of Ovid Therapeutics in a research report on Monday, April 29th. They set a "buy" rating and a $9.00 price objective for the company.

Ovid Therapeutics Price Performance

NASDAQ OVID traded down $0.02 during trading hours on Tuesday, reaching $3.00. The company's stock had a trading volume of 98,708 shares, compared to its average volume of 190,114. The company has a quick ratio of 9.55, a current ratio of 9.55 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average price is $3.10 and its 200-day moving average price is $3.31. Ovid Therapeutics has a 1 year low of $2.57 and a 1 year high of $4.14. The company has a market capitalization of $212.43 million, a price-to-earnings ratio of -4.00 and a beta of 0.69.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last released its earnings results on Friday, March 8th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.05). The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.10 million. Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%. On average, equities research analysts predict that Ovid Therapeutics will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Ovid Therapeutics

In related news, CEO Jeremy M. Levin purchased 18,248 shares of the business's stock in a transaction dated Monday, March 18th. The stock was acquired at an average price of $2.76 per share, for a total transaction of $50,364.48. Following the completion of the purchase, the chief executive officer now directly owns 3,616,715 shares of the company's stock, valued at $9,982,133.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 13.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OVID. China Universal Asset Management Co. Ltd. acquired a new position in Ovid Therapeutics in the 4th quarter valued at $26,000. Jump Financial LLC acquired a new stake in shares of Ovid Therapeutics in the 3rd quarter valued at about $61,000. BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 13,756 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ovid Therapeutics in the third quarter worth $100,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Ovid Therapeutics during the fourth quarter worth about $253,000. 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.