Ovid Therapeutics Inc. Expected to Post Q2 2022 Earnings of ($0.23) Per Share (NASDAQ:OVID)

Ovid Therapeutics Inc. (NASDAQ:OVIDGet Rating) – Investment analysts at William Blair reduced their Q2 2022 earnings per share (EPS) estimates for shares of Ovid Therapeutics in a report released on Tuesday, May 10th. William Blair analyst T. Lugo now forecasts that the company will post earnings of ($0.23) per share for the quarter, down from their prior forecast of ($0.22). William Blair also issued estimates for Ovid Therapeutics’ Q3 2022 earnings at ($0.24) EPS, Q4 2022 earnings at ($0.24) EPS, FY2022 earnings at ($0.93) EPS, Q1 2023 earnings at ($0.25) EPS, Q4 2023 earnings at ($0.27) EPS and FY2023 earnings at ($1.03) EPS.

Separately, Zacks Investment Research lowered Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd.

Shares of NASDAQ:OVID opened at $2.26 on Friday. Ovid Therapeutics has a 1 year low of $2.25 and a 1 year high of $4.80. The business’s 50 day moving average price is $3.10 and its 200-day moving average price is $3.19.

Ovid Therapeutics (NASDAQ:OVIDGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02).

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Ovid Therapeutics by 22.3% during the 3rd quarter. Geode Capital Management LLC now owns 550,902 shares of the company’s stock worth $1,851,000 after purchasing an additional 100,378 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Ovid Therapeutics in the 3rd quarter valued at about $55,000. Russell Investments Group Ltd. acquired a new position in Ovid Therapeutics in the 4th quarter valued at about $983,000. OLD Mission Capital LLC acquired a new position in Ovid Therapeutics in the 3rd quarter valued at about $317,000. Finally, Stonepine Capital Management LLC grew its position in Ovid Therapeutics by 62.6% in the 3rd quarter. Stonepine Capital Management LLC now owns 3,252,892 shares of the company’s stock valued at $10,930,000 after acquiring an additional 1,252,892 shares in the last quarter. Institutional investors and hedge funds own 48.29% of the company’s stock.

Ovid Therapeutics Company Profile (Get Rating)

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate, which is in Phase 2A clinical trials for the treatment of fragile X syndrome; OV329, a GABA aminotransferase inhibitor for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule for treating epilepsies.

Further Reading

Earnings History and Estimates for Ovid Therapeutics (NASDAQ:OVID)

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