Ovid Therapeutics (NASDAQ:OVID) Coverage Initiated by Analysts at B. Riley

B. Riley began coverage on shares of Ovid Therapeutics (NASDAQ:OVID) in a research note published on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $9.00 price target on the stock.

OVID has been the topic of several other reports. HC Wainwright assumed coverage on Ovid Therapeutics in a research note on Monday. They issued a buy rating and a $9.00 target price on the stock. Wedbush initiated coverage on shares of Ovid Therapeutics in a report on Friday, April 5th. They issued an outperform rating and a $8.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $9.00.

Ovid Therapeutics Trading Down 8.7 %

NASDAQ OVID opened at $3.05 on Tuesday. The stock’s 50-day simple moving average is $3.16 and its two-hundred day simple moving average is $3.33. Ovid Therapeutics has a twelve month low of $2.57 and a twelve month high of $4.14. The company has a quick ratio of 9.55, a current ratio of 9.55 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $215.97 million, a price-to-earnings ratio of -4.07 and a beta of 0.71.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Friday, March 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%. The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.10 million. Research analysts forecast that Ovid Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeremy M. Levin acquired 18,248 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $2.76 per share, for a total transaction of $50,364.48. Following the acquisition, the chief executive officer now directly owns 3,616,715 shares in the company, valued at $9,982,133.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ovid Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its position in Ovid Therapeutics by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock worth $41,000 after purchasing an additional 5,401 shares during the period. Assenagon Asset Management S.A. grew its position in Ovid Therapeutics by 45.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock worth $349,000 after purchasing an additional 35,786 shares during the period. Vestal Point Capital LP bought a new stake in Ovid Therapeutics in the 4th quarter worth approximately $275,000. FFT Wealth Management LLC bought a new stake in Ovid Therapeutics in the 4th quarter worth approximately $1,274,000. Finally, SG Americas Securities LLC grew its position in Ovid Therapeutics by 52.7% in the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after purchasing an additional 13,728 shares during the period. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Company Profile

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.