Ovid Therapeutics Inc. (NASDAQ:OVID) Forecasted to Post Q1 2024 Earnings of ($0.22) Per Share

Ovid Therapeutics Inc. (NASDAQ:OVID - Free Report) - HC Wainwright issued their Q1 2024 earnings per share estimates for Ovid Therapeutics in a research note issued on Monday, April 29th. HC Wainwright analyst R. Selvaraju expects that the company will earn ($0.22) per share for the quarter. HC Wainwright has a "Buy" rating and a $9.00 price target on the stock. The consensus estimate for Ovid Therapeutics' current full-year earnings is ($0.65) per share. HC Wainwright also issued estimates for Ovid Therapeutics' Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.75) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at $0.13 EPS and FY2025 earnings at ($0.62) EPS.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last released its quarterly earnings results on Friday, March 8th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Ovid Therapeutics had a negative return on equity of 49.76% and a negative net margin of 13,351.53%. The firm had revenue of $0.14 million for the quarter, compared to analysts' expectations of $0.10 million.

Several other analysts have also recently issued reports on the company. Wedbush began coverage on Ovid Therapeutics in a research note on Friday, April 5th. They issued an "outperform" rating and a $8.00 price objective on the stock. B. Riley began coverage on Ovid Therapeutics in a research note on Tuesday. They issued a "buy" rating and a $9.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $9.00.

Ovid Therapeutics Trading Up 0.3 %

Shares of OVID traded up $0.01 during midday trading on Wednesday, hitting $3.06. 222,034 shares of the stock were exchanged, compared to its average volume of 195,069. Ovid Therapeutics has a 52-week low of $2.57 and a 52-week high of $4.14. The stock has a fifty day simple moving average of $3.15 and a 200 day simple moving average of $3.33. The firm has a market cap of $216.68 million, a P/E ratio of -4.08 and a beta of 0.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.55 and a current ratio of 9.55.

Insider Buying and Selling at Ovid Therapeutics

In other Ovid Therapeutics news, CEO Jeremy M. Levin purchased 18,248 shares of the business's stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $2.76 per share, for a total transaction of $50,364.48. Following the completion of the purchase, the chief executive officer now directly owns 3,616,715 shares in the company, valued at $9,982,133.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.60% of the stock is owned by insiders.

Institutional Trading of Ovid Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of OVID. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Ovid Therapeutics during the fourth quarter worth about $26,000. Jump Financial LLC acquired a new stake in shares of Ovid Therapeutics during the third quarter worth about $61,000. SG Americas Securities LLC acquired a new stake in shares of Ovid Therapeutics during the third quarter worth about $100,000. BNP Paribas Financial Markets increased its position in shares of Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company's stock worth $98,000 after purchasing an additional 13,756 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Ovid Therapeutics during the fourth quarter worth about $253,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.