Ladenburg Thalmann & Co. Maintains Their Buy Rating on Ovid Therapeutics (OVID)

By Jason Carr

Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Ovid Therapeutics (OVIDResearch Report) today and set a price target of $20.00. The company’s shares closed last Monday at $3.50.

According to TipRanks.com, Higgins ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.1% and a 28.4% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Zynerba Pharmaceuticals, and Rhythm Pharmaceuticals.

The word on The Street in general, suggests a Hold analyst consensus rating for Ovid Therapeutics.

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Based on Ovid Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $16.63 million. In comparison, last year the company had a GAAP net loss of $12.9 million.

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Ovid Therapeutics, Inc. focuses on developing medicines for patients and families living with rare neurological disorders. The company was founded by Matthew During in April 2014 and is headquartered in New York, NY.