Research Analysts Set Expectations for Ovid Therapeutics Inc.’s Q3 2024 Earnings (NASDAQ:OVID)

Ovid Therapeutics Inc. (NASDAQ:OVID) – Analysts at B. Riley boosted their Q3 2024 earnings estimates for shares of Ovid Therapeutics in a research report issued on Tuesday, August 13th. B. Riley analyst K. Patel now anticipates that the company will post earnings per share of ($0.15) for the quarter, up from their prior estimate of ($0.26). B. Riley has a “Buy” rating and a $3.00 price target on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.81) per share. B. Riley also issued estimates for Ovid Therapeutics’ Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.34) EPS, FY2025 earnings at ($0.65) EPS, FY2026 earnings at ($0.66) EPS and FY2027 earnings at ($0.66) EPS.

Other equities research analysts have also recently issued reports about the company. Citigroup lowered their price objective on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Oppenheimer lowered Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. BTIG Research reduced their price objective on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.70.

Ovid Therapeutics Price Performance

Shares of NASDAQ OVID opened at $1.13 on Friday. The firm has a market cap of $80.17 million, a price-to-earnings ratio of -1.55 and a beta of 0.44. The company’s 50-day simple moving average is $1.13 and its 200-day simple moving average is $2.50. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.14.

Hedge Funds Weigh In On Ovid Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake 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 worth $128,000 after acquiring an additional 13,728 shares during the last quarter. FFT Wealth Management LLC purchased a new stake in shares of Ovid Therapeutics in the fourth quarter valued at about $1,274,000. Vestal Point Capital LP acquired a new stake in Ovid Therapeutics during the fourth quarter worth about $275,000. Assenagon Asset Management S.A. boosted its holdings in Ovid Therapeutics by 45.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 114,265 shares of the company’s stock valued at $349,000 after purchasing an additional 35,786 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Ovid Therapeutics by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after purchasing an additional 5,401 shares during the last quarter. Institutional investors and hedge funds 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.