Ovid Therapeutics initiated with a Buy at BTIG

BTIG initiated coverage of Ovid Therapeutics with a Buy rating and $11 price target. Ovid’s pipeline contains several candidates the firm considers relatively de-risked based on significant clinical data, such as Soticlestat, or because they are likely safer versions of therapeutics that have already shown efficacy, such as OV329 and OV888, the analyst tells investors. Ovid’s differentiated pipeline is “well-matched for the complex and somewhat stagnant epilepsy treatment landscape,” the analyst added.