buy rating and FDA Rare Pediatric Disease Designation
Shares of Ovid Therapeutics were up by 29.1%, despite the company not reporting any news. The market is probably reacting to Ovid getting a buy rating from an analyst.
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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.
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Ovid currently has no products on the market and doesn't generate any revenue. The company does have several interesting pipeline candidates, however.
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Ovid's OV101 is an investigational treatment for a rare disorder called Angelman syndrome.
www.fool.com/investi...s-soaring-today.aspx
Ovid Therapeutics Receives FDA Rare Pediatric Disease Designation for OV101 for the Treatment of Angelman Syndrome
and is currently being evaluated in the Company’s pivotal Phase 3 NEPTUNE trial in Angelman syndrome, with topline results expected in the fourth quarter of 2020. The FDA has previously granted Orphan Drug and Fast Track designations for OV101 for the treatment of Angelman syndrome.
Ovid may be eligible to receive a priority review voucher from the FDA, which can be redeemed to obtain priority review for any subsequent marketing application or may be transferred and/or sold to other companies for their programs, such as has recently been done by other voucher recipients.
“OV101 has the potential to become the first FDA-approved therapy for individuals living with Angelman syndrome. Receiving Rare Pediatric Disease Designation from the FDA is a significant milestone for this program and underscores the critical value of our work,”
finance.yahoo.com/ne...-rare-120010318.html
---------------------------------------------------------
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.
-------------------------------------------------------
Ovid currently has no products on the market and doesn't generate any revenue. The company does have several interesting pipeline candidates, however.
-------------------------------------------------------
Ovid's OV101 is an investigational treatment for a rare disorder called Angelman syndrome.
www.fool.com/investi...s-soaring-today.aspx
Ovid Therapeutics Receives FDA Rare Pediatric Disease Designation for OV101 for the Treatment of Angelman Syndrome
and is currently being evaluated in the Company’s pivotal Phase 3 NEPTUNE trial in Angelman syndrome, with topline results expected in the fourth quarter of 2020. The FDA has previously granted Orphan Drug and Fast Track designations for OV101 for the treatment of Angelman syndrome.
Ovid may be eligible to receive a priority review voucher from the FDA, which can be redeemed to obtain priority review for any subsequent marketing application or may be transferred and/or sold to other companies for their programs, such as has recently been done by other voucher recipients.
“OV101 has the potential to become the first FDA-approved therapy for individuals living with Angelman syndrome. Receiving Rare Pediatric Disease Designation from the FDA is a significant milestone for this program and underscores the critical value of our work,”
finance.yahoo.com/ne...-rare-120010318.html