William Blair Predicts Higher Earnings for Ovid Therapeutics

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities research analysts at William Blair boosted their FY2024 earnings per share estimates for Ovid Therapeutics in a research report issued on Tuesday, November 12th. William Blair analyst S. Schram now anticipates that the company will post earnings of ($0.40) per share for the year, up from their prior forecast of ($0.47). William Blair currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.49) per share. William Blair also issued estimates for Ovid Therapeutics’ Q4 2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.14) EPS.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.14 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%.

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.04.

Ovid Therapeutics Stock Down 5.7 %

OVID opened at $1.15 on Friday. The company has a fifty day moving average price of $1.16 and a two-hundred day moving average price of $1.56. Ovid Therapeutics has a 1-year low of $0.68 and a 1-year high of $4.10. The company has a quick ratio of 5.73, a current ratio of 5.66 and a debt-to-equity ratio of 0.18.

Institutional Trading of Ovid Therapeutics

Hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC bought a new stake in Ovid Therapeutics during the third quarter worth about $88,000. BNP Paribas Financial Markets boosted its stake in Ovid Therapeutics by 4,128.7% in the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after buying an additional 215,189 shares in the last quarter. FMR LLC boosted its stake in Ovid Therapeutics by 1,907.4% in the third 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. GSA Capital Partners LLP grew its position in Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after acquiring an additional 141,002 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Ovid Therapeutics during the third quarter worth approximately $102,000. 72.24% of the stock is owned by institutional investors.

About Ovid Therapeutics

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.