Market Analysts see Ovid Therapeutics Inc. [OVID] gaining to $12. Time to buy?

Ovid Therapeutics Inc. [NASDAQ: OVID] gained 11.44% on the last trading session, reaching $6.04 price per share at the time. The company report on November 13, 2020 that Ovid Therapeutics Reports Third Quarter 2020 Financial Results and Provides Corporate Update.

On track to report topline results from pivotal Phase 3 NEPTUNE trial of OV101 in Angelman syndrome in Q4 2020.

Reported positive ELEKTRA results; Ovid and Takeda plan to initiate phase 3 registrational program of OV935/TAK935 (soticlestat) in Dravet Syndrome and Lennox-Gastaut syndrome after upcoming end-of-phase 2 meeting with FDA.

Ovid Therapeutics Inc. represents 59.41 million in outstanding shares, while the company has a total market value of $343.31 million with the latest information. OVID stock price has been found in the range of $5.52 to $6.4307.

If compared to the average trading volume of 959.67K shares, OVID reached a trading volume of 1626591 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ovid Therapeutics Inc. [OVID]:

RBC Capital Mkts have made an estimate for Ovid Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 04, 2019. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. The new note on the price target was released on April 20, 2018, representing the official price target for Ovid Therapeutics Inc. stock.

The Average True Range (ATR) for Ovid Therapeutics Inc. is set at 0.39 The Price to Book ratio for the last quarter was 5.64, with the Price to Cash per share for the same quarter was set at 1.53.

Trading performance analysis for OVID stock

Ovid Therapeutics Inc. [OVID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.29. With this latest performance, OVID shares gained by 6.15% in over the last four-week period, additionally plugging by 44.84% over the last 6 months – not to mention a rise of 137.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OVID stock in for the last two-week period is set at 59.92, with the RSI for the last a single of trading hit 69.14, and the three-weeks RSI is set at 56.38 for Ovid Therapeutics Inc. [OVID]. The present Moving Average for the last 50 days of trading for this stock 5.67, while it was recorded at 5.36 for the last single week of trading, and 5.14 for the last 200 days.

Ovid Therapeutics Inc. [OVID]: A deeper dive into fundamental analysis

Return on Total Capital for OVID is now -112.86, given the latest momentum, and Return on Invested Capital for the company is -111.11. Return on Equity for this stock declined to -111.11, with Return on Assets sitting at -94.11.

Reflecting on the efficiency of the workforce at the company, Ovid Therapeutics Inc. [OVID] managed to generate an average of -$1,024,767 per employee.Ovid Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.00.

Ovid Therapeutics Inc. [OVID]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ovid Therapeutics Inc. posted -0.35/share EPS, while the average EPS was predicted by analysts to be reported at -0.41/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OVID.

An analysis of insider ownership at Ovid Therapeutics Inc. [OVID]

There are presently around $154 million, or 34.00% of OVID stock, in the hands of institutional investors. The top three institutional holders of OVID stocks are: BVF INC/IL with ownership of 3,622,051, which is approximately 51.414% of the company’s market cap and around 9.20% of the total institutional ownership; BLACKROCK INC., holding 2,759,691 shares of the stock with an approximate value of $16.67 million in OVID stocks shares; and CONSONANCE CAPITAL MANAGEMENT LP, currently with $15.53 million in OVID stock with ownership of nearly -0.387% of the company’s market capitalization.

Positions in Ovid Therapeutics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 38 institutional holders increased their position in Ovid Therapeutics Inc. [NASDAQ:OVID] by around 8,380,693 shares. Additionally, 47 investors decreased positions by around 3,299,911 shares, while 15 investors held positions by with 13,842,455 shares. The mentioned changes placed institutional holdings at 25,523,059 shares, according to the latest SEC report filing. OVID stock had 20 new institutional investments in for a total of 5,151,293 shares, while 19 institutional investors sold positions of 2,337,821 shares during the same period.

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