After William Blair and JMP Securities gave Ovid Therapeutics (NASDAQ: OVID) a Buy rating last month, the company received another Buy, this time from Ladenburg Thalmann & Co. Analyst Michael Higgins maintained a Buy rating on Ovid Therapeutics today and set a price target of $21.00. The company’s shares closed last Wednesday at $7.07.
According to TipRanks.com, Higgins is ranked 0 out of 5 stars with an average return of -6.1% and a 32.5% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Zynerba Pharmaceuticals, and Armata Pharmaceuticals.
Ovid Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $13.60, an 87.3% upside from current levels. In a report issued on July 13, JMP Securities also maintained a Buy rating on the stock with a $12.00 price target.
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Based on Ovid Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $20.03 million. In comparison, last year the company had a GAAP net loss of $13.8 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.
