Wedbush Predicts Lower Earnings for Ovid Therapeutics

Ovid Therapeutics Inc. (NASDAQ:OVID) – Investment analysts at Wedbush decreased their FY2024 EPS estimates for shares of Ovid Therapeutics in a report issued on Wednesday, November 13th. Wedbush analyst L. Chico now anticipates that the company will earn ($0.39) per share for the year, down from their previous forecast of ($0.35). The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.49) per share.

A number of other analysts have also recently issued reports on OVID. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Monday, September 30th. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ovid Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.04.

Ovid Therapeutics Trading Down 5.7 %

OVID stock opened at $1.15 on Friday. 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 $81.66 million, a price-to-earnings ratio of -2.45 and a beta of 0.41. The company has a quick ratio of 5.73, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $1.56.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million.

Institutional Trading of Ovid Therapeutics

Several institutional investors have recently added to or reduced their stakes in OVID. Verition Fund Management LLC bought a new stake in shares of Ovid Therapeutics in the 3rd quarter worth about $88,000. BNP Paribas Financial Markets grew its stake in Ovid Therapeutics by 4,128.7% in the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after purchasing an additional 215,189 shares in the last quarter. FMR LLC increased its holdings in Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after buying an additional 47,723 shares during the last quarter. GSA Capital Partners LLP raised its stake in Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after buying an additional 141,002 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Ovid Therapeutics during the third quarter valued at approximately $102,000. 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.