5 Best Biotech Stocks to Buy Under $10

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In this article, we discuss the 5 best biotech stocks to buy under $10. If you want to see more stocks in this selection, check out 12 Best Biotech Stocks To Buy Under $10.

05. Ovid Therapeutics Inc. (NASDAQ:OVID)

Number of Hedge Fund Holders as of Q3, 2022: 14

Share Price as of December 19: $1.74

Ovid Therapeutics Inc. (NASDAQ:OVID) is an emerging biotech company that designs therapies for epilepsies, seizure-related disorders, and neurological disorders. This August, the company announced that it is on its way to file with the FDA to run clinical trials for OV329, the company’s novel therapy to treat epilepsy. The company is expected to file for an IND with the FDA in the back half of 2022. Experts believe that the pipeline drug OV-935 indicates increasing revenue potential for Ovid Therapeutics Inc. (NASDAQ:OVID).

On August 29, Citi analyst Yigal Nochomovitz raised his price target on Ovid Therapeutics, Inc. (NASDAQ:OVID) to $2.50 from $2.40 and maintained a Neutral rating on the shares. At the close of Q3 2022, 14 hedge funds were long Ovid Therapeutics Inc. (NASDAQ:OVID) and held stakes worth $42.77 million in the company. Of those, Mark Lampert’s Biotechnology Value Fund was the top shareholder in the company, with stakes worth $12.60 million.

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