Ovid Therapeutics (NASDAQ:OVID) Releases Earnings Results

Ovid Therapeutics (NASDAQ:OVID) posted its earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02), Zacks reports.

Here are the key takeaways from Ovid Therapeutics’ conference call:

• OV329 is advancing through epilepsy trials, but efficacy remains unproven. Ovid expects a small photosensitivity study to read out in Q1 2027 and its 12-week Phase II study in the second half of 2027; management views at least 30% seizure reduction as competitive, while cautioning that the photosensitivity test is not a substitute for Phase II results.
• Long-term eye safety is still a key question for OV329. The predecessor vigabatrin was linked to irreversible retinal toxicity; Ovid says preclinical work supports a compound-specific issue and reports no signal so far, but its Phase I study was short, so the company plans rigorous eye monitoring in Phase II and long-term extensions.
• Ovid said it is on track to start a tuberous sclerosis complex study before year-end, using a pediatric formulation designed for young patients. The trial will assess seizure reduction and seizure freedom, with behavior and sleep among exploratory measures; no clinical results were disclosed.
• The company is positioning KCC2 activator OV4071 as a potential broad-neurology opportunity. It is in Phase I, which management described as progressing well on safety and tolerability, with a translational study expected to read out in Q1 2027; schizophrenia is the planned initial proof-of-concept indication, with other potential uses still exploratory.

Ovid Therapeutics Trading Down 3.0%

Shares of OVID stock traded down $0.09 during trading hours on Wednesday, hitting $2.71. 961,316 shares of the company’s stock traded hands, compared to its average volume of 2,309,872. The stock’s 50 day simple moving average is $2.51 and its 200 day simple moving average is $2.39. The stock has a market cap of $530.23 million, a PE ratio of -8.76 and a beta of 0.24. Ovid Therapeutics has a 12 month low of $1.18 and a 12 month high of $3.11. The company has a quick ratio of 12.39, a current ratio of 12.39 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

OVID has been the topic of several recent research reports. Wall Street Zen raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Thursday, October 15th. Oppenheimer increased their target price on Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Cantor Fitzgerald began coverage on Ovid Therapeutics in a research note on Friday, October 9th. They set an “overweight” rating on the stock. Finally, B. Riley Financial restated a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ovid Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc. is a biopharmaceutical company focused on developing medicines for epilepsies and other neurological disorders. Its work targets conditions with significant unmet treatment needs, including rare and difficult-to-treat seizure disorders. The company’s lead development program, OV329, is an investigational GABA aminotransferase inhibitor being studied as a potential treatment for seizures, including infantile spasms and focal-onset seizures. Ovid’s pipeline and research programs may change as clinical development progresses.