Ovid Therapeutics (NASDAQ:OVID) Upgraded at Oppenheimer

Oppenheimer upgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a market perform rating to an outperform rating in a research report released on Wednesday,Benzinga reports. Oppenheimer currently has $4.00 price target on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $4.03.

Ovid Therapeutics Stock Down 5.2 %

Shares of NASDAQ OVID opened at $0.66 on Wednesday. The stock has a market cap of $47.11 million, a PE ratio of -1.41 and a beta of 0.34. Ovid Therapeutics has a 52-week low of $0.66 and a 52-week high of $4.10. The business has a 50-day moving average price of $0.94 and a 200 day moving average price of $1.05. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.15 million. Equities research analysts forecast that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OVID. SG Americas Securities LLC boosted its holdings in Ovid Therapeutics by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock valued at $35,000 after purchasing an additional 17,172 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Ovid Therapeutics by 46.2% in the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after buying an additional 12,076 shares in the last quarter. FMR LLC boosted its stake in shares of Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after buying an additional 47,723 shares in the last quarter. Rhumbline Advisers grew its holdings in Ovid Therapeutics by 22.3% during the fourth quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after acquiring an additional 15,355 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Ovid Therapeutics in the third quarter worth $88,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.