Wedbush analyst Laura Chico lowered the firm’s price target on Ovid Therapeutics (OVID) to $3 from $4 and keeps an Outperform rating on the shares. The firm notes the company’s management reiterated their expectation for cash runway into second half of 2026, and now look for preliminary Phase 1 OV329 TMS, MRS data to arrive in Q3 2025. At this stage, Wedbush looks for signs of increasing GABAergic activity that can be delivered in a safe manner. Initial OV350 clinical data is also expected in Q4 2025; however, the firm continues to leave the KCC2 program as upside to its estimates.
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