Research Analysts Issue Forecasts for OVID FY2024 Earnings

Ovid Therapeutics Inc. (NASDAQ:OVID) – Investment analysts at Wedbush reduced their FY2024 earnings per share (EPS) estimates for shares of Ovid Therapeutics in a note issued to investors on Wednesday, November 13th. Wedbush analyst L. Chico now expects that the company will earn ($0.39) per share for the year, down from their prior forecast of ($0.35). The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.49) per share.

OVID has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Monday, September 30th. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.04.

Ovid Therapeutics Stock Down 7.8 %

Shares of OVID stock opened at $1.06 on Friday. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.10. 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 business’s fifty day moving average is $1.16 and its 200-day moving average is $1.55. The stock has a market cap of $75.27 million, a PE ratio of -2.19 and a beta of 0.41.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings 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 worth $54,000 after purchasing an additional 3,145 shares during the period. Empowered Funds LLC boosted its stake in shares of Ovid Therapeutics by 8.1% in the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after purchasing an additional 9,625 shares in the last quarter. XTX Topco Ltd increased its holdings 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 worth $45,000 after buying an additional 12,076 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Ovid Therapeutics by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after acquiring an additional 13,756 shares during the last quarter. Finally, DCF Advisers LLC boosted its holdings in shares of 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 owned by institutional investors.

About Ovid Therapeutics

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.