B. Riley Forecasts Weaker Earnings for Ovid Therapeutics

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities research analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Ovid Therapeutics in a report released on Monday, November 18th. B. Riley analyst K. Patel now forecasts that the company will post earnings of ($0.39) per share for the year, down from their prior forecast 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.

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

Other research analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a research note on Monday, September 30th. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.04.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $1.06 on Wednesday. The firm’s fifty day moving average price is $1.16 and its two-hundred day moving average price is $1.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The company has a market cap of $75.27 million, a P/E ratio of -2.26 and a beta of 0.41. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.10.

Institutional Investors Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DCF Advisers LLC lifted its position in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after purchasing an additional 22,020 shares during the period. XTX Topco Ltd boosted its position in shares of Ovid Therapeutics by 46.2% during the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after acquiring an additional 12,076 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ovid Therapeutics by 22.1% in the first 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 during 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 valued at $59,000 after purchasing an additional 47,723 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Ovid Therapeutics during the third quarter worth $88,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Company Profile

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.