Ovid Therapeutics Inc. (NASDAQ:OVID) to Post Q3 2024 Earnings of ($0.26) Per Share, William Blair Forecasts

Ovid Therapeutics Inc. (NASDAQ:OVID) – Stock analysts at William Blair lowered their Q3 2024 earnings estimates for Ovid Therapeutics in a research report issued on Monday, July 1st. William Blair analyst T. Lugo now forecasts that the company will post earnings per share of ($0.26) for the quarter, down from their previous forecast of ($0.22). The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.81) per share. William Blair also issued estimates for Ovid Therapeutics’ Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.19) EPS and FY2025 earnings at ($0.39) EPS.

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

Other analysts have also recently issued research reports about the stock. Citigroup reduced their target price on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Oppenheimer cut shares of Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 18th. B. Riley cut their price objective on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. BTIG Research cut their price objective on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Wedbush assumed coverage on shares of Ovid Therapeutics in a report on Friday, April 5th. They set an “outperform” rating and a $8.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.70.

Ovid Therapeutics Trading Down 2.8 %

NASDAQ OVID opened at $0.75 on Thursday. The firm has a 50 day simple moving average of $2.49 and a 200-day simple moving average of $3.03. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.47 and a quick ratio of 10.47.

Hedge Funds Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of OVID. China Universal Asset Management Co. Ltd. acquired a new position in Ovid Therapeutics in the 4th quarter valued at $26,000. Price T Rowe Associates Inc. MD increased its stake in Ovid Therapeutics by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after buying an additional 3,145 shares during the period. BNP Paribas Financial Markets increased its stake in Ovid Therapeutics by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after buying an additional 13,756 shares during the period. SG Americas Securities LLC increased its stake in Ovid Therapeutics by 52.7% in the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock valued at $128,000 after buying an additional 13,728 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics in the 4th quarter valued at $253,000. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

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.