Ovid Therapeutics (OVID) to Release Earnings on Tuesday

Ovid Therapeutics (NASDAQ:OVID) is anticipated to post its Q1 2025 quarterly earnings results before the market opens on Tuesday, May 13th. Analysts expect Ovid Therapeutics to post earnings of ($0.14) per share and revenue of $0.03 million for the quarter.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm had revenue of $0.08 million during 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%. On average, analysts expect Ovid Therapeutics to post $0 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Ovid Therapeutics Stock Performance

OVID opened at $0.29 on Friday. The company’s 50 day moving average is $0.35 and its 200 day moving average is $0.72. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. The company has a market cap of $20.63 million, a price-to-earnings ratio of -0.62 and a beta of 0.27. Ovid Therapeutics has a 12-month low of $0.24 and a 12-month high of $3.43.

Hedge Funds Weigh In On Ovid Therapeutics

A hedge fund recently raised its stake in Ovid Therapeutics stock. Bank of America Corp DE boosted its holdings in Ovid Therapeutics Inc. (NASDAQ:OVID) by 49.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,733 shares of the company’s stock after purchasing an additional 18,841 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of Ovid Therapeutics worth $53,000 as of its most recent SEC filing. 72.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OVID. Wedbush reiterated an “outperform” rating and set a $3.00 price target (down previously from $4.00) on shares of Ovid Therapeutics in a research note on Wednesday, March 12th. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a report on Thursday, April 24th. Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a research note on Wednesday, January 29th. Finally, BTIG Research lowered their price objective on Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. 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 company’s stock. According to data from MarketBeat, Ovid Therapeutics has an average rating of “Buy” and a consensus price target of $3.03.

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.