Equities Analysts Issue Forecasts for OVID FY2024 Earnings

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities researchers at William Blair boosted their FY2024 earnings per share (EPS) estimates for Ovid Therapeutics in a report issued on Tuesday, November 12th. William Blair analyst S. Schram now forecasts that the company will post earnings per share of ($0.40) for the year, up from their previous forecast of ($0.47). William Blair currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.49) per share. William Blair also issued estimates for Ovid Therapeutics’ Q4 2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.14) EPS.

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.04.

Ovid Therapeutics Trading Down 7.8 %

Shares of NASDAQ:OVID opened at $1.06 on Friday. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.10. The stock has a market capitalization of $75.27 million, a price-to-earnings ratio of -2.19 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.73 and a current ratio of 5.66. The stock’s 50-day simple moving average is $1.16 and its two-hundred day simple moving average is $1.55.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%.

Institutional Trading of Ovid Therapeutics

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 3,145 shares during the last quarter. Empowered Funds LLC boosted its holdings in Ovid Therapeutics by 8.1% during the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after acquiring an additional 9,625 shares during the period. XTX Topco Ltd boosted its stake in shares of Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after purchasing an additional 12,076 shares during the period. BNP Paribas Financial Markets increased its stake in Ovid Therapeutics by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after buying an additional 13,756 shares during the period. Finally, DCF Advisers LLC grew its stake in Ovid Therapeutics by 111.6% in the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after acquiring an additional 22,020 shares in the last quarter. 72.24% of the stock is currently owned by 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.