BlackRock Fund Advisors recently announced the acquisition of new stake in Ovid Therapeutics Inc. (NASDAQ:OVID). The institutional investor has increased its shareholding in the Healthcare company by 480.33% to 2.61 million shares with purchase of 2.16 million shares. This fresh investment now brings its stake to 4.76% valued currently at $16.8 million. In addition, BVF Partners LP raised its holdings by 1.11 million to 2.39 million shares. And The Vanguard Group, Inc. has lifted its position by 20.30% or 0.34 million shares – to 2.02 million shares.
With over 1.43 million Ovid Therapeutics Inc. (OVID) shares trading Monday and a closing price of $6.37 on the day, the dollar volume was approximately $9.11 million. The shares have shown a negative weekly performance of -20.38% and its price on 08/24/20 lost nearly -16.79%. Currently, there are 55.61M common shares owned by the public and among those 35.09M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for OVID have a consensus price objective of $13.52. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $9.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Ovid Therapeutics Inc. stock is 1.60 for the next 12 months. But an upside of 69.67% will see the stock hit the forecast high price target while mean target price for the stock is $13.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 60,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Ovid Therapeutics Inc. are Fidelity Select Port. – Biotechno, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Fidelity Select Port. – Biotechno owns 1.75 million shares of the company’s stock, all valued at over $11.3 million. The company sold -0.32 million shares recently to bring their total holdings to about 3.20% of the shares outstanding. iShares Russell 2000 ETF sold 41412.0 shares to bring its total holdings to over 0.89 million shares at a value of $5.72 million. iShares Russell 2000 ETF now owns shares totaling to 1.62% of the shares outstanding.
Shares of Ovid Therapeutics Inc. (NASDAQ: OVID) opened at $7.71, up $0.05 from a prior closing price of $7.66. However, the script later closed the day at $6.37, down -16.79%. The company’s stock has a 5-day price change of -20.38% and -4.78% over the past three months. OVID shares are trading 53.49% year to date (YTD), with the 12-month market performance up to 231.77% higher. It has a 12-month low price of $1.74 and touched a high of $9.40 over the same period. Currently, 1.43 million shares have been traded, compared to an average intraday trading volume of 1.46 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.65%, -10.85%, and 39.94% respectively.
Institutional ownership of Ovid Therapeutics Inc. (NASDAQ: OVID) shares accounts for 38.50% of the company’s 55.61M shares outstanding. Mutual fund holders own 25.21%, while other institutional holders and individual stakeholders account for 37.05% and 14.72% respectively.
It has a market capitalization of $375.70M. The earnings-per-share (ttm) stands at -$1.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.26% over the week and 7.76% over the month.
Analysts forecast that Ovid Therapeutics Inc. (OVID) will achieve an EPS of -$0.38 for the current quarter, -$0.39 for the next quarter and -$1.5 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.45 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.43 a year ago. Earnings per share for the fiscal year are expected to increase by 26.90%, and 2.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Ovid Therapeutics Inc. (OVID) as a “Strong Buy” at a consensus score of 1.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OVID, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on September 04, 2019, with the firm’s price target at $12. Ladenburg Thalmann coverage for the Ovid Therapeutics Inc. (OVID) stock in a research note released on April 20, 2018 offered a Buy rating with a price target of $27.