What is Wedbush’s Estimate for OVID FY2029 Earnings?

Ovid Therapeutics Inc. (NASDAQ:OVID) – Research analysts at Wedbush issued their FY2029 EPS estimates for Ovid Therapeutics in a report released on Wednesday, March 12th. Wedbush analyst L. Chico expects that the company will post earnings of $3.58 per share for the year. Wedbush has a “Outperform” rating and a $3.00 price objective on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.40) per share.

Several other equities analysts also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. Oppenheimer upgraded shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $3.20.

Ovid Therapeutics Price Performance

OVID opened at $0.43 on Friday. The company has a market capitalization of $30.81 million, a price-to-earnings ratio of -0.92 and a beta of 0.29. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $0.65 and a 200-day moving average price of $0.96. Ovid Therapeutics has a twelve month low of $0.42 and a twelve month high of $3.45.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.19 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%.

Hedge Funds Weigh In On Ovid Therapeutics

Several hedge funds have recently bought and sold shares of OVID. Takeda Pharmaceutical Co. Ltd. purchased a new position in Ovid Therapeutics during the fourth quarter valued at approximately $7,012,000. Adage Capital Partners GP L.L.C. purchased a new position in Ovid Therapeutics during the fourth quarter valued at approximately $934,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ovid Therapeutics by 50.2% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 943,416 shares of the company’s stock valued at $881,000 after acquiring an additional 315,126 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Ovid Therapeutics during the fourth quarter valued at approximately $272,000. Finally, BNP Paribas Financial Markets grew its stake in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after acquiring an additional 215,189 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

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.