Q3 2024 EPS Estimates for Ovid Therapeutics Inc. Lifted by Analyst (NASDAQ:OVID)

Ovid Therapeutics Inc. (NASDAQ:OVID) – Equities researchers at Wedbush upped their Q3 2024 earnings estimates for shares of Ovid Therapeutics in a research report issued to clients and investors on Wednesday, August 14th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of ($0.15) for the quarter, up from their prior forecast of ($0.16). The consensus estimate for Ovid Therapeutics’ current full-year earnings is ($0.81) per share. Wedbush also issued estimates for Ovid Therapeutics’ FY2024 earnings at ($0.35) EPS and FY2028 earnings at ($0.90) EPS.

A number of other analysts also recently weighed in on OVID. Oppenheimer downgraded Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 18th. Citigroup lowered their price objective on Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. BTIG Research reduced their target price on Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a report on Friday, July 26th. Finally, B. Riley dropped their price target on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.70.

Ovid Therapeutics Price Performance

OVID stock opened at $1.13 on Friday. The company has a market capitalization of $80.17 million, a P/E ratio of -1.55 and a beta of 0.44. The company has a fifty day moving average price of $1.13 and a 200-day moving average price of $2.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.47 and a current ratio of 10.47. Ovid Therapeutics has a 52-week low of $0.68 and a 52-week high of $4.14.

Institutional Investors Weigh In On Ovid Therapeutics

Large investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC bought a new position in shares of Ovid Therapeutics during the 2nd quarter worth approximately $1,077,000. FFT Wealth Management LLC boosted its stake in Ovid Therapeutics by 18.2% during the second 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 in the last quarter. Empowered Funds LLC grew its holdings in Ovid Therapeutics by 8.1% in the first quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock worth $391,000 after purchasing an additional 9,625 shares during the period. Assenagon Asset Management S.A. increased its stake in Ovid Therapeutics by 45.6% in the first 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 in the last quarter. Finally, Vestal Point Capital LP acquired a new position in shares of Ovid Therapeutics during the fourth quarter valued at about $275,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.