Ovid Therapeutics (OVID) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Ovid Therapeutics (NASDAQ:OVID) from a sell rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “Ovid Therapeutics Inc. is a biopharmaceutical company. It engaged in developing therapies for patients with rare neurological disorders. The company’s product pipeline consists of OV101, is currently in development for the treatment of symptoms of Angelman syndrome and Fragile X syndrome. It also involved in developing OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare epileptic encephalopathies. Ovid Therapeutics Inc. is based in New York, United States. “

Several other equities analysts also recently commented on OVID. ValuEngine downgraded shares of Ovid Therapeutics from a hold rating to a sell rating in a report on Wednesday. Piper Jaffray Companies set a $20.00 price target on shares of Ovid Therapeutics and gave the company a buy rating in a report on Monday, August 6th. BidaskClub downgraded shares of Ovid Therapeutics from a buy rating to a hold rating in a report on Friday, July 27th. Finally, LADENBURG THALM/SH SH began coverage on shares of Ovid Therapeutics in a report on Friday, April 20th. They set a buy rating and a $27.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $19.33.

Shares of Ovid Therapeutics traded up $0.14, reaching $6.16, during trading hours on Thursday, Marketbeat Ratings reports. The company’s stock had a trading volume of 83,647 shares, compared to its average volume of 102,543. Ovid Therapeutics has a one year low of $5.41 and a one year high of $12.44. The company has a market cap of $148.23 million, a PE ratio of -1.84 and a beta of 2.05.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Thursday, August 9th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.07. sell-side analysts forecast that Ovid Therapeutics will post -2.51 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Spark Investment Management LLC grew its stake in Ovid Therapeutics by 83.3% in the 1st quarter. Spark Investment Management LLC now owns 19,800 shares of the company’s stock worth $139,000 after acquiring an additional 9,000 shares in the last quarter. California State Teachers Retirement System grew its stake in Ovid Therapeutics by 109.8% in the 1st quarter. California State Teachers Retirement System now owns 18,676 shares of the company’s stock worth $132,000 after acquiring an additional 9,776 shares in the last quarter. Acadian Asset Management LLC grew its stake in Ovid Therapeutics by 165.4% in the 2nd quarter. Acadian Asset Management LLC now owns 19,729 shares of the company’s stock worth $154,000 after acquiring an additional 12,294 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Ovid Therapeutics by 67.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 34,295 shares of the company’s stock worth $243,000 after acquiring an additional 13,785 shares in the last quarter. Finally, DRW Securities LLC bought a new position in Ovid Therapeutics in the 1st quarter worth about $108,000. Institutional investors own 28.55% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

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