Ovid Therapeutics (NASDAQ:OVID) Issues Earnings Results, Beats Estimates By $0.03 EPS

Ovid Therapeutics (NASDAQ:OVID) issued its earnings results on Tuesday. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03, Zacks reports. The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.19 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $0.49 on Wednesday. The firm has a market capitalization of $34.79 million, a PE ratio of -1.04 and a beta of 0.29. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $0.68 and a 200 day moving average price of $0.97. Ovid Therapeutics has a 52-week low of $0.46 and a 52-week high of $3.45.

Institutional Trading of Ovid Therapeutics

A hedge fund recently raised its stake in Ovid Therapeutics stock. Bank of America Corp DE lifted its holdings in Ovid Therapeutics Inc. (NASDAQ:OVID) by 49.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,733 shares of the company’s stock after purchasing an additional 18,841 shares during the period. Bank of America Corp DE owned about 0.08% of Ovid Therapeutics worth $53,000 at the end of the most recent reporting period. 72.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research report on Wednesday, December 4th. Oppenheimer upgraded shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $4.03.

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.