OVID - Why Ovid Therapeutics Stock Is Soaring Today
Shares of Ovid Therapeutics (NASDAQ: OVID), a small-cap biopharmaceutical company, were up by 29.1% as of 12:51 p.m. EDT on Thursday, despite the company not reporting any news. The market is probably reacting to Ovid getting a buy rating from an analyst.
Michael Higgins, an analyst with Ladenburg Thalmann, reiterated a buy rating on Ovid's stock today. What's more, Higgins gave Ovid a price target of $20, which represents a significant upside from the company's previous close of $5.43. So it isn't surprising that investors rushed to purchase Ovid's stock, sending shares significantly higher. As of this writing, Ovid's stock is worth about $7.05.
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