Ovid Therapeutics (NASDAQ:OVID) Stock Rating Lowered by Wall Street Zen
Wall Street Zen downgraded Ovid Therapeutics from a "hold" to a "sell" rating. Despite this, Ovid has mixed ratings from other analysts, with some maintaining "buy" ratings. The stock opened at $1.31, with a market cap of $92.93 million. Institutional investors hold 72.24% of the stock. Ovid is developing treatments for neurological disorders, with several drugs in clinical trials.
Ovid Therapeutics (NASDAQ:OVID - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.
Several other research firms have also commented on OVID. Oppenheimer started coverage on shares of Ovid Therapeutics in a research note on Thursday, October 9th. They set an "outperform" rating and a $7.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ovid Therapeutics in a report on Wednesday, October 8th. Finally, B. Riley reiterated a "buy" rating on shares of Ovid Therapeutics in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $3.70.
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Ovid Therapeutics Trading Up 8.8%
OVID opened at $1.31 on Friday. The company has a current ratio of 4.24, a quick ratio of 4.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $92.93 million, a price-to-earnings ratio of -2.61 and a beta of 0.32. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $2.01. The stock has a fifty day moving average price of $1.44 and a 200-day moving average price of $0.84.
Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.02). The company had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.17 million. Ovid Therapeutics had a negative net margin of 550.04% and a negative return on equity of 63.79%. As a group, equities research analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Ovid Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Affinity Asset Advisors LLC acquired a new position in shares of Ovid Therapeutics in the 1st quarter valued at $208,000. XTX Topco Ltd purchased a new stake in Ovid Therapeutics during the 1st quarter valued at about $29,000. Y Intercept Hong Kong Ltd purchased a new stake in Ovid Therapeutics during the 2nd quarter valued at about $53,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Ovid Therapeutics by 15.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company's stock valued at $359,000 after purchasing an additional 150,000 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Ovid Therapeutics in the first quarter worth about $37,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.
About Ovid Therapeutics
(Get Free Report)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.
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