Parkman Healthcare Partners LLC bought a new position in shares of Ovid Therapeutics (NASDAQ:OVID – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 197,947 shares of the company’s stock, valued at approximately $532,000.
Several other institutional investors have also recently made changes to their positions in OVID. Private Advisor Group LLC bought a new stake in shares of Ovid Therapeutics in the 3rd quarter valued at about $33,000. Legal & General Group Plc bought a new position in Ovid Therapeutics in the second quarter worth approximately $40,000. Total Clarity Wealth Management Inc. purchased a new stake in Ovid Therapeutics during the fourth quarter worth $47,000. Jane Street Group LLC purchased a new stake in Ovid Therapeutics during the second quarter worth $47,000. Finally, State of Wyoming purchased a new stake in Ovid Therapeutics during the first quarter worth $49,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.
Wall Street Analysts Forecast Growth
OVID has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th. B. Riley Financial reissued a “buy” rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Roth Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ovid Therapeutics in a research report on Thursday, May 14th. Finally, Oppenheimer lifted 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ovid Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $5.71.
Ovid Therapeutics Trading Up 0.7%
NASDAQ:OVID opened at $2.82 on Tuesday. Ovid Therapeutics has a 52 week low of $1.05 and a 52 week high of $3.11. The firm has a 50 day moving average of $2.54 and a 200 day moving average of $2.36. The company has a quick ratio of 12.39, a current ratio of 12.39 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $550.75 million, a price-to-earnings ratio of -9.10 and a beta of 0.21.
Ovid Therapeutics (NASDAQ:OVID – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, beating 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 23.64% and a negative net margin of 240.11%. As a group, sell-side analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.
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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