Ovid Therapeutics (NASDAQ:OVID) Upgraded at ValuEngine

ValuEngine upgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.

Several other research firms have also recently issued reports on OVID. LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $27.00 price target on shares of Ovid Therapeutics in a report on Thursday, May 16th. Cowen reaffirmed a buy rating on shares of Ovid Therapeutics in a report on Monday, July 1st. Finally, Zacks Investment Research raised shares of Ovid Therapeutics from a sell rating to a hold rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Ovid Therapeutics presently has a consensus rating of Buy and an average price target of $12.85.

OVID stock traded down $0.09 during midday trading on Thursday, reaching $1.91. 12,348 shares of the company’s stock traded hands, compared to its average volume of 231,837. The stock’s 50-day simple moving average is $2.20. Ovid Therapeutics has a fifty-two week low of $1.53 and a fifty-two week high of $9.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.78. The company has a market cap of $77.39 million, a P/E ratio of -0.91 and a beta of 2.25.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Tuesday, May 7th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). Equities analysts expect that Ovid Therapeutics will post -1.84 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in OVID. Acadian Asset Management LLC grew its position in shares of Ovid Therapeutics by 445.6% during the first quarter. Acadian Asset Management LLC now owns 153,898 shares of the company’s stock worth $272,000 after acquiring an additional 125,690 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Ovid Therapeutics during the fourth quarter worth about $114,000. Geode Capital Management LLC grew its position in shares of Ovid Therapeutics by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock worth $231,000 after acquiring an additional 6,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Ovid Therapeutics by 11.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 87,257 shares of the company’s stock worth $211,000 after acquiring an additional 8,995 shares during the last quarter. Hedge funds and other institutional investors own 31.71% 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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