TD Cowen analyst Ritu Baral has maintained their bullish stance on OVID stock, giving a Buy rating on August 13.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ritu Baral has given her Buy rating due to a combination of factors related to Ovid Therapeutics’ promising pipeline and financial health. The company is advancing several clinical trials, including the Phase 1 study of OV329, a GABA aminotransferase inhibitor, which is expected to provide important safety and biomarker data by the third quarter of 2025. This data will be crucial for dose selection in a subsequent Phase 2a trial targeting treatment-resistant focal seizures, indicating a strategic progression in their drug development efforts.
Moreover, Ovid’s financial position appears stable, with a reported cash runway extending into the second half of 2026, which supports ongoing research and development activities. The ongoing Phase 1 study of OV350, another promising candidate, is set to deliver safety and tolerability data by the end of 2025, further underpinning the company’s robust clinical pipeline. These developments, alongside the planned proof-of-concept trial for OV4071 targeting psychosis in neurodegenerative diseases, contribute to a positive outlook for Ovid Therapeutics, justifying the Buy rating.
In another report released on August 13, Lucid Capital also initiated coverage with a Buy rating on the stock with a $5.50 price target.