Momentum Stock Watch: Ovid Therapeutics Inc. (OVID)

Company Profile:

Ovid Therapeutics Inc., a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate, which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome. It is also developing OV935, a drug candidate, which has completed Phase 1b/2a trial for rare epileptic encephalopathies. The company has collaboration agreement with Takeda Pharmaceutical Company Limited; and a license agreement with H. Lundbeck A/S. Ovid Therapeutics Inc. was founded in 2014 and is headquartered in New York, New York.

Recent News:

Ovid continues to enroll patients in the pivotal Phase 3 NEPTUNE trial in Angelman syndrome, with topline results expected in mid-2020.

The Company reported a net loss of $16.6 million, or basic and diluted net loss per share attributable to common stockholders of $0.43, for the third quarter of 2019, as compared to a net loss of $13.0 million, or net loss per share attributable to common stockholders of $0.53, for the same period in 2018.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

OVID’s strengths can be seen in its strong growth and robust efficiency compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, MACD is trying to cross back up and the RSI stands at 45.58 with positive bias. We rate Ovid Therapeutics Inc. (OVID) a STRONG BUY.

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