Ovid Therapeutics' (OVID) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Ovid Therapeutics' stock has been given a sell (D-) rating by Weiss Ratings, despite having some analysts assigning a Moderate Buy consensus rating with an average price target of $3.10.
• In its most recent earnings report, Ovid Therapeutics exceeded expectations with a reported loss of ($0.06) EPS against a consensus estimate of ($0.16) EPS, along with revenue significantly surpassing estimates at $6.27 million.
• Ovid Therapeutics has seen institutional buy-ins, with over 72% of its stock owned by institutional investors, indicating ongoing interest in the company's future performance and clinical trials.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on OVID. Wall Street Zen raised Ovid Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. B. Riley reissued a "buy" rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Ovid Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $3.10.

Ovid Therapeutics Price Performance

Shares of OVID stock opened at $1.58 on Wednesday. The stock has a 50 day moving average of $1.13 and a two-hundred day moving average of $0.62. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.23. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $2.01. The company has a market capitalization of $112.35 million, a P/E ratio of -2.98 and a beta of 0.35.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.10. Ovid Therapeutics had a negative return on equity of 58.87% and a negative net margin of 574.44%.The company had revenue of $6.27 million during the quarter, compared to the consensus estimate of $0.09 million. As a group, equities analysts expect that Ovid Therapeutics will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in Ovid Therapeutics by 12.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company's stock valued at $650,000 after buying an additional 237,445 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Ovid Therapeutics by 15.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company's stock worth $359,000 after purchasing an additional 150,000 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Ovid Therapeutics by 112.2% during the third quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company's stock worth $1,202,000 after purchasing an additional 488,956 shares during the period. Affinity Asset Advisors LLC acquired a new stake in shares of Ovid Therapeutics during the first quarter worth $208,000. Finally, Rosalind Advisors Inc. acquired a new stake in shares of Ovid Therapeutics during the second quarter worth $165,000. 72.24% of the stock is currently owned by institutional investors.

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.

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