Q2 2024 EPS Estimates for Ovid Therapeutics Inc. Boosted by Analyst (NASDAQ:OVID)

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities researchers at HC Wainwright raised their Q2 2024 earnings per share (EPS) estimates for Ovid Therapeutics in a research report issued to clients and investors on Tuesday, June 18th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings of ($0.24) per share for the quarter, up from their prior forecast of ($0.25). HC Wainwright currently has a “Buy” rating and a $3.00 target price on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.81) per share. HC Wainwright also issued estimates for Ovid Therapeutics’ Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.81) EPS, Q1 2025 earnings at ($0.16) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at ($0.66) EPS.

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

OVID has been the subject of a number of other research reports. Citigroup decreased their price target on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a report on Tuesday, June 18th. B. Riley lowered their price target on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. BTIG Research cut their price objective on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Oppenheimer downgraded Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. Finally, Wedbush assumed coverage on Ovid Therapeutics in a research note on Friday, April 5th. They issued an “outperform” rating and a $8.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.70.

Ovid Therapeutics Stock Performance

NASDAQ:OVID opened at $0.78 on Friday. The firm’s fifty day simple moving average is $2.88 and its 200 day simple moving average is $3.17. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a twelve month low of $0.69 and a twelve month high of $4.14. The firm has a market capitalization of $55.33 million, a price-to-earnings ratio of -1.07 and a beta of 0.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FFT Wealth Management LLC bought a new position in shares of Ovid Therapeutics in the fourth quarter worth $1,274,000. Assenagon Asset Management S.A. lifted its position in shares of Ovid Therapeutics by 45.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock valued at $349,000 after acquiring an additional 35,786 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Ovid Therapeutics in the fourth quarter worth $26,000. SG Americas Securities LLC boosted its position in Ovid Therapeutics by 52.7% during the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after acquiring an additional 13,728 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Ovid Therapeutics by 17.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock valued at $312,000 after purchasing an additional 11,926 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.