Ovid Therapeutics (OVID) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Ovid Therapeutics (NASDAQ:OVID) from a hold rating to a sell rating in a research note published on Thursday.

According to Zacks, “Ovid Therapeutics Inc. is a biopharmaceutical company. It engaged in developing therapies for patients with rare neurological disorders. The company’s product pipeline consists of OV101, is currently in development for the treatment of symptoms of Angelman syndrome and Fragile X syndrome. It also involved in developing OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare epileptic encephalopathies. Ovid Therapeutics Inc. is based in New York, United States. “

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OVID has been the subject of several other reports. ValuEngine upgraded shares of Ovid Therapeutics from a sell rating to a hold rating in a report on Monday, April 2nd. Piper Jaffray began coverage on shares of Ovid Therapeutics in a report on Friday, March 9th. They set an overweight rating and a $20.00 target price for the company. Finally, Cowen reiterated a buy rating on shares of Ovid Therapeutics in a report on Sunday, April 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $19.50.

OVID stock opened at $7.99 on Thursday. Ovid Therapeutics has a 52-week low of $5.28 and a 52-week high of $15.93.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results on Thursday, March 29th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.06). research analysts forecast that Ovid Therapeutics will post -2.19 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Tekla Capital Management LLC lifted its holdings in shares of Ovid Therapeutics by 229.7% during the fourth quarter. Tekla Capital Management LLC now owns 535,824 shares of the company’s stock valued at $5,289,000 after purchasing an additional 373,287 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Ovid Therapeutics during the fourth quarter valued at approximately $106,000. Granite Point Capital Management L.P. bought a new stake in shares of Ovid Therapeutics during the fourth quarter valued at approximately $148,000. Schwab Charles Investment Management Inc. increased its position in shares of Ovid Therapeutics by 41.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 20,510 shares of the company’s stock valued at $203,000 after acquiring an additional 6,010 shares in the last quarter. Finally, State Street Corp bought a new stake in shares of Ovid Therapeutics during the second quarter valued at approximately $520,000. Hedge funds and other institutional investors own 31.80% of the company’s stock.

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Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate that is in Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome, as well as in preclinical development stage for pediatrics with angelman syndrome.

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