duoogle Oppenheimer has downgraded Ovid Therapeutics ( NASDAQ: OVID ) to perform, citing uncertainty following the failure of its drug soticlestat in Phase 3 trials for Dravet syndrome and Lennox-Gastaut syndrome. The investment bank noted that the drug just narrowly missed meeting its primary endpoint for Dravet syndrome, and that Ovid’s partner Takeda ( TAK ) intends to discuss the data with regulators. Despite this, Oppenheimer said it was taking a “conservative” approach and moving to the sidelines “given lack of clarity.
” Oppenheimer didn’t set a price target. More on Ovid Therapeutics Ovid Therapeutics: Data Readouts For Rare Epileptic Indications Late 2024 Ovid stock plunges 66% on failed studies for soticlestat Ovid Therapeutics gains on bullish view at Wedbush Seeking Alpha’s Quant Rating on Ovid Therapeutics Historical earnings data for Ovid Therapeutics.
