Q3 2024 EPS Estimates for Ovid Therapeutics Inc. (NASDAQ:OVID) Reduced by Analyst

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities research analysts at William Blair reduced their Q3 2024 EPS estimates for shares of Ovid Therapeutics in a research report issued on Monday, July 1st. William Blair analyst T. Lugo now anticipates that the company will post earnings of ($0.26) per share for the quarter, down from their prior estimate of ($0.22). The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.81) per share. William Blair also issued estimates for Ovid Therapeutics’ Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.19) EPS and FY2025 earnings at ($0.39) EPS.

A number of other brokerages have also recently commented on OVID. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. B. Riley dropped their price objective on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Citigroup dropped their price objective on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Wedbush started coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They issued an “outperform” rating and a $8.00 price objective for the company. Finally, BTIG Research dropped their price objective on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.70.

Ovid Therapeutics Stock Down 2.8 %

Shares of NASDAQ OVID opened at $0.75 on Thursday. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average is $2.49 and its two-hundred day moving average is $3.03. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.14.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.11 million. Ovid Therapeutics had a negative net margin of 10,691.14% and a negative return on equity of 53.62%.

Hedge Funds Weigh In On Ovid Therapeutics

Large investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Ovid Therapeutics during the 4th quarter worth about $26,000. Price T Rowe Associates Inc. MD lifted its holdings in Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after buying an additional 3,145 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Ovid Therapeutics by 74.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after buying an additional 13,756 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Ovid Therapeutics by 52.7% during the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock valued at $128,000 after buying an additional 13,728 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Ovid Therapeutics during the 4th quarter valued at about $253,000. 72.24% of the stock is owned by hedge funds and other institutional investors.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.