HC Wainwright Has Bullish Estimate for OVID FY2024 Earnings

Ovid Therapeutics Inc. (NASDAQ:OVID - Free Report) - Equities researchers at HC Wainwright lifted their FY2024 earnings per share (EPS) estimates for shares of Ovid Therapeutics in a report issued on Wednesday, December 4th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($0.41) per share for the year, up from their prior forecast of ($0.46). HC Wainwright currently has a "Buy" rating and a $3.00 price objective on the stock. The consensus estimate for Ovid Therapeutics' current full-year earnings is ($0.48) per share. HC Wainwright also issued estimates for Ovid Therapeutics' Q4 2024 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.16) EPS and FY2025 earnings at ($0.63) EPS.

Separately, William Blair upgraded Ovid Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. Two equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.04.

Ovid Therapeutics Trading Up 11.7 %

Shares of Ovid Therapeutics stock traded up $0.12 during trading on Friday, reaching $1.15. The company had a trading volume of 299,384 shares, compared to its average volume of 247,625. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The firm's fifty day moving average is $1.15 and its 200-day moving average is $1.33.

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

Institutional Trading of Ovid Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new stake in Ovid Therapeutics in the second quarter valued at $1,077,000. Geode Capital Management LLC boosted its stake in Ovid Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company's stock valued at $1,555,000 after purchasing an additional 14,816 shares during the period. FFT Wealth Management LLC grew its position in Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company's stock worth $377,000 after purchasing an additional 75,530 shares during the last quarter. GSA Capital Partners LLP increased 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 valued at $307,000 after purchasing an additional 141,002 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company's stock valued at $260,000 after buying an additional 215,189 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.