Ovid Therapeutics Inc. (NASDAQ:OVID - Free Report) - Stock analysts at B. Riley issued their Q1 2024 earnings per share (EPS) estimates for shares of Ovid Therapeutics in a note issued to investors on Monday, April 29th. B. Riley analyst K. Patel forecasts that the company will earn ($0.26) per share for the quarter. B. Riley currently has a "Buy" rating and a $9.00 target price on the stock. The consensus estimate for Ovid Therapeutics' current full-year earnings is ($0.67) per share. B. Riley also issued estimates for Ovid Therapeutics' Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.07) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.85) EPS and FY2027 earnings at ($0.68) EPS.
Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last announced 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 net margin of 13,351.53% and a negative return on equity of 49.76%. The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.10 million.
A number of other research firms also recently commented on OVID. Wedbush started coverage on Ovid Therapeutics in a report on Friday, April 5th. They issued an "outperform" rating and a $8.00 price objective on the stock. HC Wainwright started coverage on Ovid Therapeutics in a report on Monday. 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, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $9.00.
Read Our Latest Analysis on OVID
Ovid Therapeutics Trading Up 0.3 %
OVID traded up $0.01 during mid-day trading on Thursday, hitting $3.07. 67,110 shares of the stock were exchanged, compared to its average volume of 193,564. The firm's fifty day moving average is $3.14 and its two-hundred day moving average is $3.33. Ovid Therapeutics has a 1-year low of $2.57 and a 1-year high of $4.14. The company has a current ratio of 9.55, a quick ratio of 9.55 and a debt-to-equity ratio of 0.17. The company has a market cap of $217.39 million, a PE ratio of -4.09 and a beta of 0.69.
Institutional Trading of Ovid Therapeutics
A number of hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its position in Ovid Therapeutics by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company's stock worth $41,000 after acquiring an additional 5,401 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ovid Therapeutics by 17.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company's stock worth $312,000 after acquiring an additional 11,926 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Ovid Therapeutics by 52.7% in the 4th quarter. SG Americas Securities LLC now owns 39,792 shares of the company's stock valued at $128,000 after buying an additional 13,728 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Ovid Therapeutics by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company's stock valued at $98,000 after buying an additional 13,756 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Ovid Therapeutics in the 3rd quarter valued at approximately $61,000. 72.24% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Ovid Therapeutics
In other news, CEO Jeremy M. Levin bought 18,248 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $2.76 per share, with a total value of $50,364.48. Following the transaction, the chief executive officer now directly owns 3,616,715 shares in the company, valued at $9,982,133.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 12.60% of the company's stock.
About Ovid Therapeutics
(
Get Free Report)
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.
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