Ovid Therapeutics Inc (NASDAQ:OVID) Receives Average Recommendation of “Buy” from Analysts

Shares of Ovid Therapeutics Inc (NASDAQ:OVID) have received a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $14.80.

A number of research analysts recently issued reports on the stock. Piper Jaffray Companies set a $14.00 price objective on shares of Ovid Therapeutics and gave the company a “buy” rating in a report on Monday, September 23rd. Zacks Investment Research cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. ValuEngine upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup boosted their price objective on shares of Ovid Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, William Blair restated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, November 22nd.

Shares of NASDAQ OVID opened at $3.84 on Thursday. The stock has a market cap of $172.14 million, a P/E ratio of -1.82 and a beta of 2.82. The firm has a 50 day moving average price of $4.17 and a 200 day moving average price of $2.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.78 and a current ratio of 3.78. Ovid Therapeutics has a 52-week low of $1.53 and a 52-week high of $5.24.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.02. Analysts predict that Ovid Therapeutics will post -1.64 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Ovid Therapeutics by 67.8% in the second quarter. Vanguard Group Inc. now owns 1,097,614 shares of the company’s stock worth $2,030,000 after purchasing an additional 443,490 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Ovid Therapeutics by 29.8% in the second quarter. Renaissance Technologies LLC now owns 471,609 shares of the company’s stock worth $872,000 after purchasing an additional 108,392 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Ovid Therapeutics by 41.0% in the second quarter. Wells Fargo & Company MN now owns 442,604 shares of the company’s stock worth $819,000 after purchasing an additional 128,618 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Ovid Therapeutics in the second quarter worth $109,000. Finally, Jane Street Group LLC lifted its position in shares of Ovid Therapeutics by 199.6% in the second quarter. Jane Street Group LLC now owns 52,309 shares of the company’s stock worth $97,000 after purchasing an additional 34,850 shares in the last quarter. Institutional investors own 17.17% of the company’s stock.

About Ovid Therapeutics

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, which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

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Analyst Recommendations for Ovid Therapeutics (NASDAQ:OVID)

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