Research Analysts Offer Predictions for Ovid Therapeutics Inc.’s Q1 2024 Earnings (NASDAQ:OVID)

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities research analysts at B. Riley issued their Q1 2024 earnings per share (EPS) estimates for shares of Ovid Therapeutics in a research note issued to 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 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 ($0.67) 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 released its quarterly earnings data 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 business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.10 million.

OVID has been the subject of several other reports. HC Wainwright assumed coverage on shares of Ovid Therapeutics in a research note on Monday. They set a “buy” rating and a $9.00 price objective for the company. Wedbush started coverage on Ovid Therapeutics in a research report on Friday, April 5th. They set an “outperform” rating and a $8.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $9.00.

Ovid Therapeutics Trading Up 0.3 %

Shares of NASDAQ:OVID opened at $3.06 on Thursday. Ovid Therapeutics has a 12 month low of $2.57 and a 12 month high of $4.14. The company has a quick ratio of 9.55, a current ratio of 9.55 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $3.15 and a 200 day moving average price of $3.33.

Institutional Investors Weigh In On Ovid Therapeutics

Several hedge funds have recently made changes to their positions in the company. Jump Financial LLC bought a new stake in shares of Ovid Therapeutics in the third quarter valued at about $61,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Ovid Therapeutics in the 4th quarter valued at about $26,000. SG Americas Securities LLC lifted its position in shares of Ovid Therapeutics by 52.7% in the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company’s stock worth $128,000 after purchasing an additional 13,728 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Ovid Therapeutics during the fourth quarter valued at approximately $253,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Ovid Therapeutics by 17.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company’s stock valued at $312,000 after buying an additional 11,926 shares during the period. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ovid Therapeutics

In related news, CEO Jeremy M. Levin acquired 18,248 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $2.76 per share, for a total transaction of $50,364.48. Following the acquisition, the chief executive officer now directly owns 3,616,715 shares of the company’s stock, valued at approximately $9,982,133.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.