FY2024 EPS Estimate for Ovid Therapeutics Boosted by Analyst

Ovid Therapeutics Inc. (NASDAQ:OVID) – Research analysts at William Blair boosted their FY2024 earnings estimates for Ovid Therapeutics in a research note issued to investors on Tuesday, November 12th. William Blair analyst S. Schram now forecasts that the company will earn ($0.40) per share for the year, up from their previous forecast of ($0.47). William Blair currently 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) last released its earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) 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 firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.15 million.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research report on Monday, September 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.04.

Ovid Therapeutics Stock Down 7.8 %

NASDAQ:OVID opened at $1.06 on Friday. The stock has a 50-day simple moving average of $1.16 and a 200 day simple moving average of $1.54. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.10. The company has a market cap of $75.27 million, a PE ratio of -2.26 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.73 and a current ratio of 5.66.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Driehaus Capital Management LLC acquired a new stake in shares of Ovid Therapeutics in the 2nd quarter valued at approximately $1,077,000. Geode Capital Management LLC raised its holdings 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 valued at $1,555,000 after purchasing an additional 14,816 shares during the period. FFT Wealth Management LLC lifted its stake in Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after purchasing an additional 75,530 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after purchasing an additional 141,002 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after buying an additional 215,189 shares during the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

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.