What is Wedbush’s Estimate for OVID FY2029 Earnings?

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities researchers at Wedbush issued their FY2029 earnings estimates for Ovid Therapeutics in a research report issued to clients and investors on Wednesday, March 12th. Wedbush analyst L. Chico forecasts that the company will earn $3.58 per share for the year. Wedbush currently has a “Outperform” rating and a $3.00 target price on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.40) per share.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, March 11th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The company had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.19 million.

A number of other research firms have also recently commented on OVID. Oppenheimer upgraded shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target for the company in a report on Wednesday, January 29th. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $3.20.

Ovid Therapeutics Trading Down 1.4 %

OVID opened at $0.43 on Friday. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The stock has a market cap of $30.81 million, a PE ratio of -0.92 and a beta of 0.29. The company has a fifty day moving average of $0.65 and a 200-day moving average of $0.96. Ovid Therapeutics has a twelve month low of $0.42 and a twelve month high of $3.45.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Velan Capital Investment Management LP bought a new position in shares of Ovid Therapeutics in the fourth quarter valued at $65,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ovid Therapeutics by 50.2% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 943,416 shares of the company’s stock valued at $881,000 after buying an additional 315,126 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Ovid Therapeutics during the fourth quarter valued at about $272,000. Bank of America Corp DE lifted its position in shares of Ovid Therapeutics by 49.7% during the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after purchasing an additional 18,841 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Ovid Therapeutics during the fourth quarter valued at about $934,000. 72.24% of the stock is 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.