Ovid Therapeutics (NASDAQ:OVID) Now Covered by Analysts at B. Riley

Stock analysts at B. Riley began coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a research note issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $9.00 price target on the stock. B. Riley’s target price indicates a potential upside of 169.46% from the stock’s current price.

A number of other equities research analysts have also issued reports on OVID. Wedbush assumed coverage on shares of Ovid Therapeutics in a report on Friday, April 5th. They set an “outperform” rating and a $8.00 price objective for the company. HC Wainwright began coverage on shares of Ovid Therapeutics in a research note on Monday. They set a “buy” rating and a $9.00 target price for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ovid Therapeutics has an average rating of “Buy” and an average target price of $9.00.

Ovid Therapeutics Stock Up 7.7 %

OVID opened at $3.34 on Tuesday. Ovid Therapeutics has a fifty-two week low of $2.57 and a fifty-two week high of $4.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.55 and a current ratio of 9.55. The stock has a market cap of $236.51 million, a price-to-earnings ratio of -4.45 and a beta of 0.71. The firm’s fifty day moving average is $3.17 and its 200 day moving average is $3.33.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Friday, March 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.10 million. Ovid Therapeutics had a negative return on equity of 49.76% and a negative net margin of 13,351.53%. On average, sell-side analysts forecast that Ovid Therapeutics will post -0.65 earnings per share for the current fiscal year.

Insider Activity

In other Ovid Therapeutics news, CEO Jeremy M. Levin purchased 18,248 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average price of $2.76 per share, with a total value of $50,364.48. Following the completion of the purchase, the chief executive officer now directly owns 3,616,715 shares in the company, valued at $9,982,133.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Ovid Therapeutics

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its stake in shares of Ovid Therapeutics by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after purchasing an additional 5,401 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Ovid Therapeutics by 45.6% in the first quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock worth $349,000 after buying an additional 35,786 shares during the last quarter. Vestal Point Capital LP purchased a new position in Ovid Therapeutics during the fourth quarter worth $275,000. FFT Wealth Management LLC bought a new position in Ovid Therapeutics during the fourth quarter valued at $1,274,000. Finally, SG Americas Securities LLC raised its stake in shares of Ovid Therapeutics by 52.7% in the fourth quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock valued at $128,000 after acquiring an additional 13,728 shares during the period. 72.24% of the stock is owned by institutional investors.

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.