Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Ovid Therapeutics Inc (OVID) today and set a price target of $10. The company’s shares opened today at $3.03, close to its 52-week low of $2.97.
Duncan said:
“The Disclosure Section may be found on pages 4 – 5. We reiterate our Overweight rating and $10 PT on OVID. We view recent P2 Angelman data with OV101 as supportive of efficacy in various neuropsych disorders. OV935 provides potential upside to our valuation. Valuation Summary We use a discounted NPV revenue calculation that yields ~$8 for a pipeline placeholder of ~$2 for FXS.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -2.3% and a 41.3% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Ovid Therapeutics Inc is a Moderate Buy with an average price target of $10.
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Based on Ovid Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.96 million. In comparison, last year the company had a GAAP net loss of $9.36 million.
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Ovid Therapeutics, Inc. is a biopharmaceutical company, which focuses on developing impactful 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.
