Research Analysts Set Expectations for OVID FY2024 Earnings

Ovid Therapeutics Inc. (NASDAQ:OVID) – Stock analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for shares of Ovid Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. William Blair analyst S. Schram now forecasts that the company will earn ($0.40) per share for the year, up from their previous forecast of ($0.47). William Blair 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.

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

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

Ovid Therapeutics Price Performance

OVID opened at $1.15 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.73. The stock’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.56. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.10.

Institutional Trading of Ovid Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Driehaus Capital Management LLC purchased a new stake in shares of Ovid Therapeutics during the second quarter valued at $1,077,000. BNP Paribas Financial Markets boosted its holdings in shares of Ovid Therapeutics by 4,128.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after acquiring an additional 215,189 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Ovid Therapeutics by 118.0% in the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after acquiring an additional 141,002 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Ovid Therapeutics in the third quarter worth approximately $102,000. Finally, FFT Wealth Management LLC raised its holdings in shares of Ovid Therapeutics by 18.2% during the second quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after purchasing an additional 75,530 shares during the last quarter. Institutional investors own 72.24% of the company’s stock.

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.