Fintel reports that on April 30, 2024, B. Riley Securities initiated coverage of Ovid Therapeutics (NasdaqGS:OVID) with a Buy recommendation.
Analyst Price Forecast Suggests 123.95% Upside
As of April 17, 2024, the average one-year price target for Ovid Therapeutics is 7.48. The forecasts range from a low of 4.04 to a high of $11.55. The average price target represents an increase of 123.95% from its latest reported closing price of 3.34.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ovid Therapeutics is 43MM, an increase of 10,967.28%. The projected annual non-GAAP EPS is -0.15.
What is the Fund Sentiment?
There are 177 funds or institutions reporting positions in Ovid Therapeutics. This is an increase of 7 owner(s) or 4.12% in the last quarter. Average portfolio weight of all funds dedicated to OVID is 0.12%, an increase of 30.57%. Total shares owned by institutions increased in the last three months by 5.21% to 47,014K shares. 
The put/call ratio of OVID is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
Bvf holds 6,851K shares representing 9.68% ownership of the company. No change in the last quarter.
EcoR1 Capital holds 6,117K shares representing 8.64% ownership of the company. No change in the last quarter.
Rubric Capital Management holds 5,316K shares representing 7.51% ownership of the company. In its prior filing, the firm reported owning 5,446K shares , representing a decrease of 2.44%. The firm decreased its portfolio allocation in OVID by 54.72% over the last quarter.
Madison Avenue Partners holds 3,649K shares representing 5.15% ownership of the company. No change in the last quarter.
Artal Group holds 2,500K shares representing 3.53% ownership of the company. No change in the last quarter.
Ovid Therapeutics Background Information
(This description is provided by the company.)
Ovid Therapeutics Inc. is a New York-based biopharmaceutical company using its BoldMedicine® approach to develop medicines that transform the lives of patients with rare neurological disorders. The company believes these disorders represent an attractive area for drug development as the understanding of the underlying biology has grown meaningfully over the last few years and today represents a substantial opportunity medically and commercially. Based on recent scientific advances in genetics and the biological pathways of the brain, Ovid aims to identify, discover and acquire novel compounds for the treatment of rare neurological disorders. Ovid has built a deep knowledge of such disorders, how to treat them and how to develop the clinically meaningful endpoints required for development of a compound in these disorders. As a result of this knowledge, Ovid has developed a robust pipeline of first-in-class compounds and programs. The company continues to execute on its strategy to build this pipeline by discovering, in-licensing and collaborating with leading biopharmaceutical companies and academic institutions. These pipeline programs include programs targeting rare epilepsies, Angelman syndrome and Fragile X syndrome, as well as early-stage programs into other monogenetic disorders. Ovid’s most advanced pipeline programs include OV935 (soticlestat) in collaboration with Takeda and OV101 a δ-selective GABAA receptor agonist. Ovid’s emerging pipeline programs include OV329, a small molecule GABA aminotransferase inhibitor for seizures associated with Tuberous Sclerosis Complex and Infantile Spasms; OV882, a short hairpin RNA therapy approach for Angelman syndrome; OV815, a genetic therapy approach for KIF1A associated neurological disorder; and other non-disclosed researched targets.
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