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Is Ovid Therapeutics Stock a Buy?

TheMotleyFool

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Shares of Ovid Therapeutics (NASDAQ: OVID) have more than doubled over the past four months, a performance the clinical-stage biotech company owes in part to a positive rating from an analyst. In March and again in June, Ladenburg Thalmann analyst Michael Higgins gave the stock a $20 price target. Even after its recent rally, though, Ovid is trading at about $7.50, which means there's still a lot of room for it to grow -- at least if we're going by Higgins' price target. Is now a good time to invest in this small-cap biotech?