HC Wainwright Analysts Increase Earnings Estimates for OVID

Ovid Therapeutics Inc. (NASDAQ:OVID) – Research analysts at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Ovid Therapeutics in a report issued on Wednesday, December 4th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.41) for the year, up from their previous estimate of ($0.46). HC Wainwright has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.49) per share. HC Wainwright also issued estimates for Ovid Therapeutics’ Q4 2024 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.16) EPS and FY2025 earnings at ($0.63) EPS.

Separately, 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.04.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $1.15 on Friday. The company has a 50 day simple moving average of $1.15 and a two-hundred day simple moving average of $1.33. Ovid Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The company has a market capitalization of $81.66 million, a price-to-earnings ratio of -2.45 and a beta of 0.29. 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 (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.15 million.

Hedge Funds Weigh In On Ovid Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. DCF Advisers LLC increased its holdings in shares of Ovid Therapeutics by 111.6% in the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after purchasing an additional 22,020 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after buying an additional 12,076 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ovid Therapeutics by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after buying an additional 3,145 shares in the last quarter. FMR LLC increased its holdings in Ovid Therapeutics by 1,907.4% in the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after buying an additional 47,723 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Ovid Therapeutics in the 3rd quarter worth about $88,000. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

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.