Ovid Therapeutics (NASDAQ:OVID) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Ovid Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, July 27th. ValuEngine raised shares of Ovid Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Finally, 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Ovid Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $18.08.

NASDAQ:OVID opened at $6.01 on Thursday. The stock has a market cap of $139.66 million, a PE ratio of -1.79 and a beta of 1.29. Ovid Therapeutics has a 52 week low of $5.20 and a 52 week high of $12.44.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Thursday, August 9th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.07. On average, research analysts anticipate that Ovid Therapeutics will post -2.26 earnings per share for the current fiscal year.

In other news, Director Douglas E. Williams purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average cost of $6.49 per share, with a total value of $32,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 43.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in Ovid Therapeutics by 109.8% during the 1st quarter. California State Teachers Retirement System now owns 18,676 shares of the company’s stock valued at $132,000 after purchasing an additional 9,776 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Ovid Therapeutics by 165.4% in the second 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 during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ovid Therapeutics by 482.8% in the first quarter. JPMorgan Chase & Co. now owns 33,006 shares of the company’s stock worth $233,000 after acquiring an additional 27,343 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Ovid Therapeutics by 67.2% in the first 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 during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Ovid Therapeutics in the first quarter worth about $420,000. 31.06% of the stock is owned by hedge funds and other institutional investors.

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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