Zacks: Ovid Therapeutics Inc (OVID) Receives Average Rating of “Strong Buy” from Analysts

Ovid Therapeutics Inc (NASDAQ:OVID) has earned an average broker rating score of 1.00 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus price target of $21.00 for the company, according to Zacks. Zacks has also given Ovid Therapeutics an industry rank of 108 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised shares of Ovid Therapeutics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, November 16th.

Shares of Ovid Therapeutics (OVID) opened at $10.33 on Wednesday. Ovid Therapeutics has a 52-week low of $5.28 and a 52-week high of $15.93.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.16. research analysts predict that Ovid Therapeutics will post -4.08 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Ovid Therapeutics during the 2nd quarter valued at approximately $135,000. TIAA CREF Investment Management LLC bought a new position in shares of Ovid Therapeutics during the 2nd quarter valued at approximately $142,000. Schwab Charles Investment Management Inc. bought a new position in shares of Ovid Therapeutics during the 2nd quarter valued at approximately $153,000. Jennison Associates LLC boosted its holdings in Ovid Therapeutics by 2.7% in the 3rd quarter. Jennison Associates LLC now owns 667,466 shares of the company’s stock worth $5,858,000 after buying an additional 17,392 shares during the period. Finally, OxFORD Asset Management LLP bought a new position in Ovid Therapeutics in the 2nd quarter worth approximately $189,000. 29.36% of the stock is owned by hedge funds and other institutional investors.

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Ovid Therapeutics Company Profile

Ovid Therapeutics Inc (Ovid) is a biopharmaceutical company. The Company is engaged in developing medicines for patients and families living with rare neurological disorders. Its lead drug candidate is OV101. The Company’s second lead drug candidate is OV935. OV101 (gaboxadol) is a delta-selective GABAA receptor agonist.

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