Brokers Set Expectations for Ovid Therapeutics Inc.’s Q1 2024 Earnings (NASDAQ:OVID)

Ovid Therapeutics Inc. (NASDAQ:OVID) – Research analysts at B. Riley issued their Q1 2024 EPS estimates for shares of Ovid Therapeutics in a research report issued to clients and investors on Monday, April 29th. B. Riley analyst K. Patel expects that the company will earn ($0.26) per share for the quarter. B. Riley has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.73) per share. B. Riley also issued estimates for Ovid Therapeutics’ Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.07) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.85) EPS and FY2027 earnings at ($0.68) EPS.

Ovid Therapeutics (NASDAQ:OVID) last announced 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 net margin of 13,351.53% and a negative return on equity of 49.76%. The firm had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.10 million.

A number of other brokerages also recently issued reports on OVID. Wedbush initiated coverage on Ovid Therapeutics in a research report on Friday, April 5th. They set an “outperform” rating and a $8.00 price target on the stock. HC Wainwright began coverage on shares of Ovid Therapeutics in a research report on Monday, April 29th. They set a “buy” rating and a $9.00 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $9.00.

Ovid Therapeutics Stock Down 0.3 %

Ovid Therapeutics stock opened at $3.06 on Thursday. Ovid Therapeutics has a twelve month low of $2.57 and a twelve month high of $4.14. The business has a fifty day moving average of $3.14 and a two-hundred day moving average of $3.33. The firm has a market cap of $216.68 million, a P/E ratio of -4.08 and a beta of 0.69. The company has a quick ratio of 9.55, a current ratio of 9.55 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Ovid Therapeutics

In related news, CEO Jeremy M. Levin acquired 18,248 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were acquired at an average cost of $2.76 per share, with a total value of $50,364.48. Following the completion of the acquisition, the chief executive officer now directly owns 3,616,715 shares in the company, valued at approximately $9,982,133.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ovid Therapeutics

A number of large investors have recently modified their holdings of the business. FFT Wealth Management LLC acquired a new stake in shares of Ovid Therapeutics in the fourth quarter valued at approximately $1,274,000. Vestal Point Capital LP purchased a new stake in Ovid Therapeutics in the fourth quarter valued at approximately $275,000. Assenagon Asset Management S.A. purchased a new stake in shares of Ovid Therapeutics in the 4th quarter valued at $253,000. SG Americas Securities LLC purchased a new stake in Ovid Therapeutics during the third quarter worth about $100,000. Finally, Jump Financial LLC acquired a new position in shares of Ovid Therapeutics in the third quarter valued at approximately $61,000. Hedge funds and other 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.