Wall Street Zen upgraded shares of Ovid Therapeutics (NASDAQ:OVID – Free Report) from a sell rating to a hold rating in a report issued on Saturday.
Other equities research analysts have also issued research reports about the company. B. Riley Financial reiterated a “buy” rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Oppenheimer lifted their price objective on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Roth Capital reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. One 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.71.
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Ovid Therapeutics Price Performance
Ovid Therapeutics (NASDAQ:OVID – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $0.02 million. Ovid Therapeutics had a negative return on equity of 27.69% and a negative net margin of 240.11%. As a group, equities research analysts forecast that Ovid Therapeutics will post -0.49 earnings per share for the current year.
Hedge Funds Weigh In On Ovid Therapeutics
Large investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC acquired a new stake in shares of Ovid Therapeutics in the second quarter valued at about $55,898,000. ADAR1 Capital Management LLC acquired a new position in shares of Ovid Therapeutics during the 2nd quarter worth about $19,953,000. Parkman Healthcare Partners LLC purchased a new position in Ovid Therapeutics in the 2nd quarter valued at about $532,000. Legal & General Group Plc acquired a new stake in Ovid Therapeutics in the 2nd quarter worth about $40,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Ovid Therapeutics in the 2nd quarter worth about $110,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.
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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