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

Ovid Therapeutics Inc. (NASDAQ:OVID) – Stock analysts at B. Riley issued their Q1 2024 EPS estimates for Ovid Therapeutics in a research note issued to investors on Monday, April 29th. B. Riley analyst K. Patel forecasts that the company will post earnings of ($0.26) per share for the quarter. B. Riley has a “Buy” rating and a $9.00 price objective 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 posted its earnings results on Friday, March 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.10 million. Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%.

Other equities research analysts also recently issued reports about the stock. Wedbush started coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They set an “outperform” rating and a $8.00 target price on the stock. HC Wainwright assumed coverage on Ovid Therapeutics in a research report on Monday. They set a “buy” rating and a $9.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.00.

Ovid Therapeutics Stock Up 0.3 %

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

Institutional Inflows and Outflows

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

Insider Buying and Selling

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

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.