For Ovid Therapeutics Inc. [OVID], Analyst sees a rise to $4. What next?

Ovid Therapeutics Inc. [NASDAQ: OVID] traded at a high on 07/02/21, posting a 2.28 gain after which it closed the day’ session at $4.04. The company report on June 4, 2021 that Ovid Therapeutics Appoints Jeff Rona as Chief Business and Financial Officer.

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– Broadened role enables deeper focus on the Company’s business strategy –.

Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, announced that current Chief Business Officer Jeffrey Rona has expanded his role to include Chief Financial Officer responsibilities.

The results of the trading session contributed to over 958957 shares changing hands. Over the past one week, the price volatility of Ovid Therapeutics Inc. stands at 5.24% while the volatility over the past one month is 4.29%.

The market cap for OVID stock reached $267.81 million, with 66.09 million shares outstanding and 48.02 million shares in the current float. Compared to the average trading volume of 881.12K shares, OVID reached a trading volume of 958957 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ovid Therapeutics Inc. [OVID]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OVID shares is $4.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OVID stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Ovid Therapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 20, 2021. The new note on the price target was released on March 03, 2021, representing the official price target for Ovid Therapeutics Inc. stock. On December 02, 2020, analysts decreased their price target for OVID shares from 10 to 4.

The Average True Range (ATR) for Ovid Therapeutics Inc. is set at 0.19, with the Price to Sales ratio for OVID stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 1.21. Price to Free Cash Flow for OVID in the course of the last twelve months was 2.10 with Quick ratio for the last quarter at 14.50.

How has OVID stock performed recently?

Ovid Therapeutics Inc. [OVID] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.91. With this latest performance, OVID shares dropped by -7.13% in over the last four-week period, additionally plugging by 74.89% over the last 6 months – not to mention a drop of -43.81% 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 44.26, with the RSI for the last a single of trading hit 40.13, and the three-weeks RSI is set at 47.72 for Ovid Therapeutics Inc. [OVID]. The present Moving Average for the last 50 days of trading for this stock 4.01, while it was recorded at 3.99 for the last single week of trading, and 3.33 for the last 200 days.

Ovid Therapeutics Inc. [OVID]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ovid Therapeutics Inc. [OVID] shares currently have an operating margin of -645.40. Ovid Therapeutics Inc.’s Net Margin is presently recorded at -642.26.

Return on Total Capital for OVID is now -143.29, given the latest momentum, and Return on Invested Capital for the company is -142.60. Return on Equity for this stock declined to -142.60, with Return on Assets sitting at -103.38.

Reflecting on the efficiency of the workforce at the company, Ovid Therapeutics Inc. [OVID] managed to generate an average of -$1,209,486 per employee. Receivables Turnover for the company is 19.82 with a Total Asset Turnover recorded at a value of 0.16.Ovid Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.50 and a Current Ratio set at 14.50.

Insider trade positions for Ovid Therapeutics Inc. [OVID]

There are presently around $147 million, or 53.70% of OVID stock, in the hands of institutional investors. The top three institutional holders of OVID stocks are: BVF INC/IL with ownership of 6,417,551, which is approximately 41.917% of the company’s market cap and around 31.04% of the total institutional ownership; ECOR1 CAPITAL, LLC, holding 6,082,200 shares of the stock with an approximate value of $24.57 million in OVID stocks shares; and BLACKROCK INC., currently with $14.96 million in OVID stock with ownership of nearly 8.499% of the company’s market capitalization.

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Positions in Ovid Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 49 institutional holders increased their position in Ovid Therapeutics Inc. [NASDAQ:OVID] by around 15,713,077 shares. Additionally, 38 investors decreased positions by around 6,999,393 shares, while 18 investors held positions by with 13,573,329 shares. The mentioned changes placed institutional holdings at 36,285,799 shares, according to the latest SEC report filing. OVID stock had 22 new institutional investments in for a total of 10,632,168 shares, while 16 institutional investors sold positions of 4,638,050 shares during the same period.

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