Ovid Therapeutics (NASDAQ:OVID) has received an average rating of “Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.33.
OVID has been the subject of several research reports. Cowen restated a “buy” rating on shares of Ovid Therapeutics in a report on Sunday, April 1st. Piper Jaffray initiated coverage on shares of Ovid Therapeutics in a report on Friday, March 9th. They issued an “overweight” rating and a $20.00 price objective for the company. Zacks Investment Research lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, April 5th. Finally, ValuEngine upgraded shares of Ovid Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, December 31st.
NASDAQ OVID traded up $0.11 during trading on Tuesday, hitting $9.07. The company had a trading volume of 38,768 shares, compared to its average volume of 171,002. Ovid Therapeutics has a one year low of $5.28 and a one year high of $15.93. The firm has a market capitalization of $220.58 and a PE ratio of -2.71.
A number of hedge funds and other institutional investors have recently modified their holdings of OVID. Tekla Capital Management LLC grew its position in shares of Ovid Therapeutics by 229.7% in the 4th quarter. Tekla Capital Management LLC now owns 535,824 shares of the company’s stock worth $5,289,000 after buying an additional 373,287 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Ovid Therapeutics in the 2nd quarter worth about $1,042,000. Northern Trust Corp purchased a new stake in shares of Ovid Therapeutics in the 2nd quarter worth about $604,000. State Street Corp purchased a new stake in shares of Ovid Therapeutics in the 2nd quarter worth about $520,000. Finally, Granite Point Capital Management L.P. purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth about $148,000. Institutional investors and hedge funds own 31.79% of the company’s stock.
About Ovid Therapeutics
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 that is in Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome, as well as in preclinical development stage for pediatrics with angelman syndrome.
Receive News & Ratings for Ovid Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovid Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.