Ovid Therapeutics Inc (OVID) Receives a Buy from Cowen & Co.

By Carrie Williams

In a report released yesterday, Ritu Baral from Cowen & Co. maintained a Buy rating on Ovid Therapeutics Inc (OVIDResearch Report). The company’s shares closed on Friday at $1.71, close to its 52-week low of $1.64.

According to TipRanks.com, Baral is a top 100 analyst with an average return of 27.3% and a 52.4% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.

Currently, the analyst consensus on Ovid Therapeutics Inc is a Strong Buy with an average price target of $13.40, implying a 683.6% upside from current levels. In a report issued on May 7, Ladenburg also maintained a Buy rating on the stock with a $27 price target.

See today’s analyst top recommended stocks >>

Based on Ovid Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $13.8 million. In comparison, last year the company had a GAAP net loss of $13.18 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.