ValuEngine Upgrades Ovid Therapeutics (NASDAQ:OVID) to “Hold”

Ovid Therapeutics (NASDAQ:OVID) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

A number of other research analysts also recently issued reports on the stock. Citigroup boosted their target price on shares of Ovid Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. William Blair reissued a “buy” rating on shares of Ovid Therapeutics in a report on Friday, November 22nd. Piper Jaffray Companies set a $14.00 target price on Ovid Therapeutics and gave the stock a “buy” rating in a research note on Monday, September 23rd. Cowen restated a “buy” rating on shares of Ovid Therapeutics in a research note on Monday, November 11th. Finally, Zacks Investment Research lowered Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $12.67.

OVID traded up $0.34 during trading on Tuesday, reaching $3.97. 8,192 shares of the company’s stock were exchanged, compared to its average volume of 878,565. Ovid Therapeutics has a 1 year low of $1.53 and a 1 year high of $5.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.78 and a quick ratio of 3.78. The stock has a market capitalization of $172.14 million, a P/E ratio of -1.88 and a beta of 2.82. The company’s fifty day simple moving average is $4.17 and its 200-day simple moving average is $2.80.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.02. Equities analysts forecast that Ovid Therapeutics will post -1.64 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC purchased a new stake in Ovid Therapeutics during the third quarter worth $56,000. Virtu Financial LLC purchased a new stake in Ovid Therapeutics during the third quarter worth $80,000. Jane Street Group LLC lifted its holdings in Ovid Therapeutics by 199.6% during the second quarter. Jane Street Group LLC now owns 52,309 shares of the company’s stock valued at $97,000 after purchasing an additional 34,850 shares in the last quarter. Paloma Partners Management Co purchased a new position in Ovid Therapeutics during the second quarter valued at $109,000. Finally, Wells Fargo & Company MN grew 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 valued at $819,000 after purchasing an additional 128,618 shares during the period. 17.17% of the stock is currently owned by hedge funds and other institutional investors.

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, 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ovid Therapeutics (NASDAQ:OVID)

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