B. Riley Predicts Reduced Earnings for Ovid Therapeutics

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities researchers at B. Riley cut their FY2024 earnings per share (EPS) estimates for Ovid Therapeutics in a report issued 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.

A number of other brokerages also recently issued reports on OVID. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a report on Monday, September 30th. Two 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 MarketBeat, Ovid Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $4.04.

Ovid Therapeutics Price Performance

Ovid Therapeutics stock opened at $1.03 on Wednesday. The firm has a market cap of $73.14 million, a PE ratio of -2.21 and a beta of 0.41. The company’s 50 day moving average is $1.16 and its two-hundred day moving average is $1.50. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.10. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.15 million.

Institutional Trading of Ovid Therapeutics

Several institutional investors have recently added to or reduced their stakes in OVID. BNP Paribas Financial Markets boosted its holdings in shares of Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock valued at $98,000 after acquiring an additional 13,756 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after purchasing an additional 3,145 shares during the period. FFT Wealth Management LLC boosted its position in Ovid Therapeutics by 18.2% during the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after acquiring an additional 75,530 shares during the period. DCF Advisers LLC grew 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 valued at $32,000 after purchasing an additional 22,020 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Ovid Therapeutics in the 2nd quarter worth about $1,077,000. 72.24% of the stock is owned by institutional investors and hedge funds.

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.