HC Wainwright Weighs in on Ovid Therapeutics Inc.’s Q1 2024 Earnings (NASDAQ:OVID)

Ovid Therapeutics Inc. (NASDAQ:OVID) – Analysts at HC Wainwright issued their Q1 2024 EPS estimates for shares of Ovid Therapeutics in a research report issued on Monday, April 29th. HC Wainwright analyst R. Selvaraju expects that the company will post earnings of ($0.22) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.65) per share. HC Wainwright also issued estimates for Ovid Therapeutics’ Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.75) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at $0.13 EPS and FY2025 earnings at ($0.62) EPS.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Friday, March 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.10 million. Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%.

Other equities research analysts have also issued reports about the stock. B. Riley started coverage on shares of Ovid Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $9.00 price objective on the stock. Wedbush started coverage on shares of Ovid Therapeutics in a research report on Friday, April 5th. They issued an “outperform” rating and a $8.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.00.

Ovid Therapeutics Stock Down 8.7 %

Shares of NASDAQ OVID opened at $3.05 on Wednesday. Ovid Therapeutics has a one year low of $2.57 and a one year high of $4.14. The company’s fifty day moving average is $3.16 and its two-hundred day moving average is $3.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.55 and a current ratio of 9.55.

Insider Transactions at Ovid Therapeutics

In other news, CEO Jeremy M. Levin bought 18,248 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average price of $2.76 per share, for a total transaction of $50,364.48. Following the acquisition, the chief executive officer now owns 3,616,715 shares of the company’s stock, valued at $9,982,133.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On Ovid Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. FFT Wealth Management LLC purchased a new position in shares of Ovid Therapeutics during the 4th quarter valued at approximately $1,274,000. Assenagon Asset Management S.A. raised its position in shares of Ovid Therapeutics by 45.6% during 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. Vestal Point Capital LP acquired a new stake in shares of Ovid Therapeutics during the 4th quarter valued at approximately $275,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Ovid Therapeutics by 17.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock valued at $312,000 after acquiring an additional 11,926 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of 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 acquiring an additional 13,728 shares in the last quarter. Hedge funds and other institutional investors 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.