10:59 AM EDT, 10/09/2025 (MT Newswires) -- Ovid Therapeutics ( OVID ) is advancing its epilepsy drug candidate OV329 following encouraging early-stage clinical data that suggest best-in-class potential, Oppenheimer said in a note Wednesday.

Phase 1 data showed OV329, a GABA-aminotransferase inhibitor, demonstrated a favorable safety and tolerability profile, including no ocular findings at doses up to 5 milligrams, while biomarker activity supported potential efficacy in reducing seizure frequency, the firm said.

Oppenheimer values OV329's risk-adjusted peak sales potential in epilepsy patients at more than $1 billion.

Additional data from the 7 mg dose cohort, expected in Q1 of 2026, and the planned start of a phase 2a study in Q2 are among the key upcoming catalysts for the stock, according to the note.

The firm also noted Ovid's strong balance sheet, supported by up to $175 million in new financing, which is expected to fund operations into 2028.

Oppenheimer upgraded Ovid Therapeutics ( OVID ) to outperform from not rated, and set a $7 price target.

Ovid Therapeutics' ( OVID ) stock rose more than 15% in recent trading Thursday.

Price: 1.82, Change: +0.24, Percent Change: +15.19