Ovid Therapeutics (NASDAQ:OVID – Get Free Report) had its price objective hoisted by stock analysts at HC Wainwright from $4.00 to $5.00 in a research note issued on Friday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 90.11% from the company’s current price.
A number of other analysts have also weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Friday, July 17th. Roth Capital restated a “buy” rating and set a $8.00 target price on shares of Ovid Therapeutics in a research report on Thursday, September 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research note on Tuesday, July 21st. Oppenheimer upped their target price on Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ovid Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.
Get Our Latest Stock Analysis on OVID
Ovid Therapeutics Trading Down 2.6%
Ovid Therapeutics (NASDAQ:OVID – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. The business had revenue of $0.73 million for the quarter, compared to the consensus estimate of $0.02 million. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.64%. As a group, analysts anticipate that Ovid Therapeutics will post -0.39 earnings per share for the current year.
Hedge Funds Weigh In On Ovid Therapeutics
A number of hedge funds have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new position in shares of Ovid Therapeutics during the second quarter worth approximately $55,898,000. BlackRock Inc. bought a new position in shares of Ovid Therapeutics during the 2nd quarter worth $29,115,000. Janus Henderson Group PLC purchased a new position in shares of Ovid Therapeutics during the first quarter valued at $23,732,000. RA Capital Management L.P. bought a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $17,464,000. Finally, Affinity Asset Advisors LLC lifted its stake in Ovid Therapeutics by 48.8% in the first quarter. Affinity Asset Advisors LLC now owns 10,636,318 shares of the company’s stock worth $23,613,000 after acquiring an additional 3,486,318 shares during the period. 72.24% of the stock is currently owned by institutional investors.
Ovid Therapeutics Company Profile
Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.
The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.
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