UPDATE: RBC Capital Starts Ovid Therapeutics Inc (OVID) at Outperform
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(Updated - September 4, 2019 6:19 AM EDT)
(updated to add analyst comments)
RBC Capital analyst Brian Abrahams initiates coverage on Ovid Therapeutics Inc (NASDAQ: OVID) with a Outperform rating and a price target of $12.00.
The analyst commented, "We believe the Street is overlooking signals of activity for lead drug OV101 that suggest its potential for success in Angelman's Syndrome - a high unmet need orphan disease we believe could provide $280M in out-year revs, with additional potential for the drug in Fragile X Syndrome (FXS) and for OV935 in refractory epilepsies. We believe the considerable upside opportunity upon success as these under-the-radar programs progress creates a compelling reward/risk."
Shares of Ovid Therapeutics Inc closed at $1.76 yesterday.
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