Analysts Anticipate Ovid Therapeutics Inc. (NASDAQ:OVID) Will Post Earnings of -$0.19 Per Share

Equities research analysts predict that Ovid Therapeutics Inc. (NASDAQ:OVID) will report earnings of ($0.19) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Ovid Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.21). Ovid Therapeutics posted earnings per share of ($0.28) during the same quarter last year, which suggests a positive year-over-year growth rate of 32.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 11th.

According to Zacks, analysts expect that Ovid Therapeutics will report full year earnings of $1.97 per share for the current year, with EPS estimates ranging from $1.90 to $2.03. For the next financial year, analysts anticipate that the business will post earnings of ($0.85) per share, with EPS estimates ranging from ($1.12) to ($0.65). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Ovid Therapeutics.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Monday, August 16th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.07).

OVID has been the subject of several analyst reports. Citigroup cut their price target on Ovid Therapeutics from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, August 25th. JMP Securities restated a “hold” rating on shares of Ovid Therapeutics in a report on Monday, August 30th. Finally, Zacks Investment Research downgraded Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.13.

In related news, CMO Amit Rakhit sold 34,017 shares of the firm’s stock in a transaction that occurred on Wednesday, July 14th. The shares were sold at an average price of $3.71, for a total transaction of $126,203.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.80% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC bought a new position in Ovid Therapeutics in the 2nd quarter worth $89,000. Y Intercept Hong Kong Ltd acquired a new position in Ovid Therapeutics in the second quarter valued at about $48,000. Morgan Stanley boosted its position in Ovid Therapeutics by 144.1% in the second quarter. Morgan Stanley now owns 190,200 shares of the company’s stock valued at $743,000 after buying an additional 112,266 shares in the last quarter. Millennium Management LLC acquired a new position in Ovid Therapeutics in the second quarter valued at about $2,994,000. Finally, Boothbay Fund Management LLC boosted its position in Ovid Therapeutics by 7.3% in the second quarter. Boothbay Fund Management LLC now owns 141,433 shares of the company’s stock valued at $553,000 after buying an additional 9,599 shares in the last quarter. Institutional investors and hedge funds own 49.24% of the company’s stock.

OVID stock traded down $0.08 on Friday, reaching $3.37. The company had a trading volume of 527,906 shares, compared to its average volume of 1,853,916. Ovid Therapeutics has a 1 year low of $2.25 and a 1 year high of $4.80. The company’s fifty day moving average is $3.66 and its 200 day moving average is $3.86. The company has a market cap of $228.93 million, a P/E ratio of 2.05 and a beta of 1.79.

Ovid Therapeutics Company Profile

Ovid Therapeutics, Inc is a biopharmaceutical company, which engages in the development of medicines for patients and families living with rare neurological disorders. The company was founded by Matthew During in April 2014 and is headquartered in New York, NY.

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Earnings History and Estimates for Ovid Therapeutics (NASDAQ:OVID)

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