William Blair Has Positive Outlook for OVID FY2024 Earnings

Ovid Therapeutics Inc. (NASDAQ:OVID - Free Report) - Equities research analysts at William Blair upped their FY2024 earnings 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 anticipates that the company will post earnings of ($0.40) per share for the year, up from their prior 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.34. The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.14 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%.

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

Ovid Therapeutics Stock Performance

Shares of NASDAQ OVID traded down $0.09 during midday trading on Friday, reaching $1.06. The company had a trading volume of 437,549 shares, compared to its average volume of 391,114. The business's 50-day simple moving average is $1.16 and its 200 day simple moving average is $1.55. The stock has a market cap of $75.27 million, a P/E ratio of -2.19 and a beta of 0.41. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.10. The company has a current ratio of 5.66, a quick ratio of 5.73 and a debt-to-equity ratio of 0.18.

Institutional Trading of Ovid Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DCF Advisers LLC grew its stake in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company's stock worth $32,000 after buying an additional 22,020 shares during the period. XTX Topco Ltd raised its holdings in Ovid Therapeutics by 46.2% in the third quarter. XTX Topco Ltd now owns 38,230 shares of the company's stock valued at $45,000 after acquiring an additional 12,076 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ovid Therapeutics by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company's stock valued at $54,000 after purchasing an additional 3,145 shares during the last quarter. FMR LLC increased its stake in Ovid Therapeutics by 1,907.4% during the third quarter. FMR LLC now owns 50,225 shares of the company's stock valued at $59,000 after purchasing an additional 47,723 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Ovid Therapeutics during the third quarter worth about $88,000. 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.