Ovid Therapeutics Inc. (NASDAQ:OVID) Forecasted to Post Q1 2024 Earnings of ($0.22) Per Share

Ovid Therapeutics Inc. (NASDAQ:OVID) – Stock analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for Ovid Therapeutics in a report issued on Monday, April 29th. HC Wainwright analyst R. Selvaraju expects that the company will earn ($0.22) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.65) per share. HC Wainwright also issued estimates for Ovid Therapeutics’ Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.75) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at $0.13 EPS and FY2025 earnings at ($0.62) EPS.

A number of other equities analysts have also issued reports on OVID. Wedbush assumed coverage on Ovid Therapeutics in a report on Friday, April 5th. They issued an “outperform” rating and a $8.00 price objective for the company. B. Riley assumed coverage on Ovid Therapeutics in a report on Tuesday. They issued a “buy” rating and a $9.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $9.00.

Ovid Therapeutics Stock Up 0.3 %

NASDAQ:OVID opened at $3.06 on Wednesday. The firm has a market capitalization of $216.68 million, a PE ratio of -4.08 and a beta of 0.71. The stock has a 50 day moving average of $3.15 and a 200-day moving average of $3.33. Ovid Therapeutics has a 52 week low of $2.57 and a 52 week high of $4.14. The company has a current ratio of 9.55, a quick ratio of 9.55 and a debt-to-equity ratio of 0.17.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Friday, March 8th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Ovid Therapeutics had a negative return on equity of 49.76% and a negative net margin of 13,351.53%. The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.10 million.

Institutional Investors Weigh In On Ovid Therapeutics

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. bought a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $26,000. Jump Financial LLC bought a new position in Ovid Therapeutics during the third quarter worth about $61,000. BNP Paribas Financial Markets lifted its stake in Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after purchasing an additional 13,756 shares during the period. SG Americas Securities LLC bought a new position in Ovid Therapeutics during the third quarter worth about $100,000. Finally, Assenagon Asset Management S.A. bought a new position in Ovid Therapeutics during the fourth quarter worth about $253,000. Institutional investors own 72.24% of the company’s stock.

Insiders Place Their Bets

In other Ovid Therapeutics news, CEO Jeremy M. Levin bought 18,248 shares of the stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of $2.76 per share, with a total value of $50,364.48. Following the completion of the transaction, the chief executive officer now directly owns 3,616,715 shares of the company’s stock, valued at approximately $9,982,133.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.60% 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.