Q2 2024 Earnings Forecast for Ovid Therapeutics Inc. (NASDAQ:OVID) Issued By HC Wainwright

Ovid Therapeutics Inc. (NASDAQ:OVID) – Analysts at HC Wainwright lifted their Q2 2024 earnings estimates for Ovid Therapeutics in a research report issued to clients and investors on Tuesday, June 18th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($0.24) per share for the quarter, up from their previous estimate of ($0.25). HC Wainwright has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.80) per share. HC Wainwright also issued estimates for Ovid Therapeutics’ Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.81) EPS, Q1 2025 earnings at ($0.16) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at ($0.66) EPS.

A number of other equities analysts also recently weighed in on OVID. Wedbush started coverage on shares of Ovid Therapeutics in a report on Friday, April 5th. They issued an “outperform” rating and a $8.00 price target on the stock. B. Riley dropped their target price on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup reduced their target price on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a research report on Tuesday. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, BTIG Research reduced their price objective on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.70.

Ovid Therapeutics Stock Up 11.3 %

Shares of NASDAQ:OVID opened at $0.78 on Friday. Ovid Therapeutics has a 1 year low of $0.69 and a 1 year high of $4.14. The company has a market capitalization of $55.34 million, a PE ratio of -1.07 and a beta of 0.58. The business has a fifty day moving average price of $2.88 and a two-hundred day moving average price of $3.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.47 and a quick ratio of 10.47.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.11 million. Ovid Therapeutics had a negative return on equity of 53.62% and a negative net margin of 10,691.14%.

Institutional Trading of Ovid Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of OVID. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 during the period. SG Americas Securities LLC lifted its holdings in Ovid Therapeutics by 52.7% during the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after purchasing an additional 13,728 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Ovid Therapeutics during the 4th quarter valued at about $253,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Ovid Therapeutics during the fourth quarter valued at about $26,000. Finally, FFT Wealth Management LLC purchased a new stake in shares of Ovid Therapeutics in the fourth quarter worth about $1,274,000. 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.