Ovid Therapeutics (NASDAQ:OVID) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analysts have an average rating of “Buy” on Ovid Therapeutics from 10 firms (1 sell, 7 buy, 2 strong buy), with a 12‑month consensus price target of about $4.63.
• Institutional ownership is high at 72.24%, and several funds materially increased stakes recently—most notably ADAR1 (now ~4.285M shares, ~$7.0M) and Millennium (added 353,172 shares)—indicating rising hedge fund interest.
• The stock traded around $2.91 (50/200‑day MAs $2.07/$1.75) with a market cap of ~$383.8M; Ovid beat last quarter’s EPS and revenue estimates but remains unprofitable with negative margins and a projected -$0.40 EPS for the year, while its lead drug OV101 targets Angelman and Fragile X syndromes.

Shares of Ovid Therapeutics (NASDAQ:OVID - Get Free Report) have been assigned an average rating of "Buy" from the ten research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.6250.

OVID has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Ovid Therapeutics in a research report on Thursday, January 22nd. HC Wainwright raised their price objective on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Wall Street Zen upgraded shares of Ovid Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Wedbush restated an "outperform" rating and set a $7.00 price objective on shares of Ovid Therapeutics in a research report on Wednesday, April 15th. Finally, Lifesci Capital started coverage on shares of Ovid Therapeutics in a report on Monday, December 22nd. They set an "outperform" rating and a $4.00 target price on the stock.

Hedge Funds Weigh In On Ovid Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sovereign Financial Group Inc. grew 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 during the last quarter. Invesco Ltd. bought a new position in shares of Ovid Therapeutics during the 4th quarter valued at $54,000. ADAR1 Capital Management LLC grew its holdings in shares of Ovid Therapeutics by 33,256.7% during the 4th quarter. ADAR1 Capital Management LLC now owns 4,285,000 shares of the company's stock valued at $6,985,000 after purchasing an additional 4,272,154 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Ovid Therapeutics by 217.2% during the 4th quarter. Quadrature Capital Ltd now owns 87,874 shares of the company's stock valued at $143,000 after purchasing an additional 60,171 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Ovid Therapeutics by 35.8% during the 4th quarter. Millennium Management LLC now owns 1,339,465 shares of the company's stock valued at $2,183,000 after purchasing an additional 353,172 shares during the last quarter. Institutional investors own 72.24% of the company's stock.

Ovid Therapeutics Stock Performance

Ovid Therapeutics stock opened at $2.91 on Monday. The firm's fifty day moving average price is $2.07 and its 200-day moving average price is $1.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 8.97 and a current ratio of 8.97. The stock has a market cap of $383.76 million, a P/E ratio of -9.39 and a beta of -0.03. Ovid Therapeutics has a fifty-two week low of $0.26 and a fifty-two week high of $3.11.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. The firm had revenue of $0.72 million for the quarter, compared to analysts' expectations of $0.06 million. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.98%. On average, equities research analysts expect that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

About Ovid Therapeutics

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company's lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.

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