Ovid initiated with Outperform on ‘unique’ assets at Wedbush

Wedbush last night initiated coverage of Ovid Therapeutics with an Outperform rating and $8 price target. The analyst believes small molecule central nervous system agents offer an advantage in targeting certain disease states. The epilepsy space “is at the top of our list,” and Ovid has multiple, unique assets, the analyst tells investors in a research note. The firm’s estimates assign soticlestat credit, which it says offers a potential non-dilutive funding source for the company.