Ovid Therapeutics (NASDAQ:OVID) Issues Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Ovid Therapeutics reported a quarterly loss of $0.10 per share, missing analyst estimates of a $0.08 loss by $0.02.
• OV329 epilepsy studies are progressing, with readouts expected in 2027, but efficacy is unproven and long-term retinal safety remains a key concern; Ovid plans close eye monitoring in later trials.
• Ovid expects to begin a tuberous sclerosis complex study before year-end, while its Phase I KCC2 activator OV4071 program is also progressing; analysts’ consensus rating is “Moderate Buy” with a $6 price target.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 Stock Down 0.9%

OVID stock traded down $0.03 during midday trading on Tuesday, hitting $2.83. The company's stock had a trading volume of 944,430 shares, compared to its average volume of 2,309,290. The company has a quick ratio of 12.39, a current ratio of 12.39 and a debt-to-equity ratio of 0.05. Ovid Therapeutics has a 52-week low of $1.18 and a 52-week high of $3.11. The firm has a market capitalization of $551.72 million, a P/E ratio of -9.14 and a beta of 0.24. The firm has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $2.38.

Analyst Upgrades and Downgrades

OVID has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of Ovid Therapeutics in a research report on Thursday, October 15th. They set an "outperform" rating and a $5.00 price objective for the company. UBS Group restated a "buy" rating on shares of Ovid Therapeutics in a research report on Friday, September 11th. Cantor Fitzgerald started coverage on Ovid Therapeutics in a research note on Friday, October 9th. They issued an "overweight" rating for the company. Guggenheim assumed coverage on Ovid Therapeutics in a report on Tuesday, October 6th. They issued a "buy" rating and a $7.00 price objective on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Ovid Therapeutics in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ovid Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $6.00.

About Ovid Therapeutics

Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for epilepsies and other disorders of the central nervous system. The company's research has concentrated on conditions with significant unmet medical needs, including rare epileptic and neurodevelopmental disorders.

Ovid's pipeline has included soticlestat, an investigational therapy developed in collaboration with Takeda Pharmaceutical Company for developmental and epileptic encephalopathies such as Dravet syndrome and Lennox-Gastaut syndrome.

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