Equities Analysts Offer Predictions for OVID FY2024 Earnings

Ovid Therapeutics Inc. (NASDAQ:OVID - Free Report) - B. Riley reduced their FY2024 earnings per share (EPS) estimates for Ovid Therapeutics in a note issued to investors on Monday, November 18th. B. Riley analyst K. Patel now forecasts that the company will post earnings per share of ($0.39) for the year, down from their prior forecast of ($0.34). The consensus estimate for Ovid Therapeutics' current full-year earnings is ($0.49) per share. B. Riley also issued estimates for Ovid Therapeutics' Q4 2024 earnings at ($0.15) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.72) EPS, FY2027 earnings at ($0.73) EPS and FY2028 earnings at ($0.86) EPS.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. The business had revenue of $0.17 million during the quarter, compared to analysts' expectations of $0.15 million.

Several other analysts also recently weighed in on OVID. William Blair upgraded Ovid Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. HC Wainwright reaffirmed a "buy" rating and set a $3.00 target price on shares of Ovid Therapeutics in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ovid Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $4.04.

Ovid Therapeutics Stock Up 0.5 %

Shares of NASDAQ:OVID traded up $0.01 on Wednesday, reaching $1.04. The company had a trading volume of 100,967 shares, compared to its average volume of 389,703. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.10. The firm's 50 day simple moving average is $1.16 and its 200-day simple moving average is $1.49. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $73.50 million, a PE ratio of -2.19 and a beta of 0.41.

Hedge Funds Weigh In On Ovid Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its stake in shares of Ovid Therapeutics by 311.2% in the 3rd quarter. Barclays PLC now owns 84,175 shares of the company's stock valued at $98,000 after purchasing an additional 63,702 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Ovid Therapeutics by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company's stock worth $1,555,000 after acquiring an additional 14,816 shares during the period. XTX Topco Ltd grew its stake in shares of Ovid Therapeutics by 46.2% in the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company's stock worth $45,000 after purchasing an additional 12,076 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Ovid Therapeutics during the third quarter valued at about $88,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Ovid Therapeutics by 4,128.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company's stock valued at $260,000 after purchasing an additional 215,189 shares during the period. 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.