Ovid Therapeutics (NASDAQ:OVID) PT Lowered to $3.00 at HC Wainwright

Ovid Therapeutics (NASDAQ:OVIDFree Report) had its target price lowered by HC Wainwright from $9.00 to $3.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently commented on OVID. Wedbush assumed coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They issued an outperform rating and a $8.00 target price for the company. Citigroup lowered their price objective on Ovid Therapeutics from $4.00 to $3.50 and set a neutral rating for the company in a research report on Tuesday, May 7th. Oppenheimer downgraded Ovid Therapeutics from an outperform rating to a market perform rating in a research report on Tuesday. Finally, B. Riley assumed coverage on Ovid Therapeutics in a report on Tuesday, April 30th. They issued a buy rating and a $9.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $4.70.

View Our Latest Stock Report on Ovid Therapeutics

Ovid Therapeutics Stock Down 11.0 %

Shares of NASDAQ:OVID opened at $0.70 on Tuesday. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $49.73 million, a P/E ratio of -0.96 and a beta of 0.58. Ovid Therapeutics has a 52-week low of $0.69 and a 52-week high of $4.14. The stock’s fifty day simple moving average is $2.92 and its 200-day simple moving average is $3.19.

Ovid Therapeutics (NASDAQ:OVIDGet Free Report) last released its earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.11 million. Ovid Therapeutics had a negative net margin of 10,691.14% and a negative return on equity of 53.62%. As a group, equities research analysts forecast that Ovid Therapeutics will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ovid Therapeutics

A number of large investors have recently modified their holdings of OVID. China Universal Asset Management Co. Ltd. acquired a new stake in Ovid Therapeutics during the 4th quarter worth approximately $26,000. Price T Rowe Associates Inc. MD raised its stake in shares of Ovid Therapeutics by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after acquiring an additional 3,145 shares during the period. Jump Financial LLC acquired a new position in shares of Ovid Therapeutics during the 3rd quarter valued at $61,000. BNP Paribas Financial Markets boosted its position 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 purchasing an additional 13,756 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Ovid Therapeutics by 52.7% in the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock valued at $128,000 after purchasing an additional 13,728 shares in the last quarter. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

About Ovid Therapeutics

(Get Free Report)

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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