B. Riley raised the firm’s price target on Ovid Therapeutics (OVID) to $5 from $3 and keeps a Buy rating on the shares. The price target increase follows strong Phase 1 OV329 biomarker results, which showed superior efficacy to vigabatrin without ocular toxicity, supporting earlier-line use and a potential market expansion to over $700M, the analyst tells investors in a research note. A concurrent $175M PIPE financing bolsters the balance sheet, extending cash runway into 2028 and fully funding key development milestones through late 2026, the firm adds.
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