Ovid Therapeutics Inc [NASDAQ: OVID] surged by $0.09 during the normal trading session on Thursday and reaching a high of $0.6096 during the day while it closed the day at $0.48.
Ovid Therapeutics Inc stock has also gained 14.39% of its value over the past 7 days. However, OVID stock has inclined by 67.35% in the 3 months of the year. Over the past six months meanwhile, it has lost -36.68% and lost -48.93% year-on date.
The market cap for OVID stock reached $34.08 million, with 71.11 million shares outstanding and 59.51 million shares in the current float. Compared to the average trading volume of 942.95K shares, OVID reached a trading volume of 24357799 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $2.88 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 1.00. 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.
Oppenheimer have made an estimate for Ovid Therapeutics Inc shares, keeping their opinion on the stock as Perform, with their previous recommendation back on June 18, 2024. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on April 30, 2024, representing the official price target for Ovid Therapeutics Inc stock. Previously, the target price had yet another raise to $9, while H.C. Wainwright analysts kept a Buy rating on OVID stock.
The Price to Book ratio for the last quarter was 0.57, with the Price to Cash per share for the same quarter was set at 0.60.
OVID stock trade performance evaluation
Ovid Therapeutics Inc [OVID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.39. With this latest performance, OVID shares gained by 64.93% in over the last four-week period, additionally sinking by -36.68% over the last 6 months – not to mention a drop of -48.67% 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 69.33, with the RSI for the last a single of trading hit 0.0579, and the three-weeks RSI is set at 0.0433 for Ovid Therapeutics Inc [OVID]. The present Moving Average for the last 50 days of trading for this stock 0.3220, while it was recorded at 0.4078 for the last single week of trading, and 0.6711 for the last 200 days.
Ovid Therapeutics Inc [OVID]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Ovid Therapeutics Inc [OVID] shares currently have an operating margin of -10404.20% and a Gross Margin at -10.22%. Ovid Therapeutics Inc’s Net Margin is presently recorded at -4557.12%.
Ovid Therapeutics Inc (OVID) Capital Structure & Debt Analysis
According to recent financial data for Ovid Therapeutics Inc. ( OVID), the Return on Equity (ROE) stands at -36.31%, highlighting a negative impact on investor capital. The Return on Assets (ROA) is -23.42%, reflecting the company’s efficiency in generating profits from its assets. Additionally, Ovid Therapeutics Inc’s Return on Invested Capital (ROIC) is -34.52%, showcasing its effectiveness in deploying capital for earnings.
Ovid Therapeutics Inc (OVID) Efficiency & Liquidity Metrics
Based on Ovid Therapeutics Inc’s (OVID) latest financial statements, the Debt-to-Equity Ratio is 0.24%, indicating its reliance on debt financing relative to shareholder equity.
Ovid Therapeutics Inc (OVID) Efficiency & Liquidity Metrics
From an operational efficiency perspective, Ovid Therapeutics Inc. (OVID) effectively leverages its workforce, generating an average of -$1085652.17 per employee. The company’s liquidity position is robust, with a Current Ratio of 4.93% and a Quick Ratio of 4.93%, indicating strong ability to cover short-term liabilities.
Ovid Therapeutics Inc [OVID]: Institutional Ownership
There are presently around $55.97%, or 66.89% of OVID stock, in the hands of institutional investors. The top three institutional holders of OVID stocks are: TAKEDA PHARMACEUTICAL CO LTD with ownership of 7.53 million shares, which is approximately 10.6209%. RUBRIC CAPITAL MANAGEMENT LP, holding 5.32 million shares of the stock with an approximate value of $$4.09 million in OVID stocks shares; and RUBRIC CAPITAL MANAGEMENT LP, currently with $$3.14 million in OVID stock with ownership which is approximately 5.7562%.
