B. Riley Decreases Earnings Estimates for Ovid Therapeutics

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities research analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Ovid Therapeutics in a research note issued on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the company will post earnings per share of ($0.39) for the year, down from their previous estimate of ($0.34). The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.49) per share. B. Riley also issued estimates for Ovid Therapeutics’ Q4 2024 earnings at ($0.15) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.72) EPS, FY2027 earnings at ($0.73) EPS and FY2028 earnings at ($0.86) EPS.

Several other research firms have also recently issued reports on OVID. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a report on Monday, September 30th. William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ovid Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.04.

Ovid Therapeutics Stock Up 1.0 %

OVID stock opened at $1.04 on Wednesday. The stock has a market capitalization of $73.85 million, a PE ratio of -2.19 and a beta of 0.41. The company has a fifty day moving average of $1.16 and a 200-day moving average of $1.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. DCF Advisers LLC increased its position in shares of Ovid Therapeutics by 111.6% in the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after buying an additional 22,020 shares in the last quarter. XTX Topco Ltd grew its stake in Ovid Therapeutics by 46.2% in the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after acquiring an additional 12,076 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after acquiring an additional 3,145 shares in the last quarter. FMR LLC raised its position in Ovid Therapeutics by 1,907.4% during the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after acquiring an additional 47,723 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Ovid Therapeutics in the third quarter valued at about $88,000. 72.24% of the stock is owned by hedge funds and other institutional investors.

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.