-$0.60 Earnings Per Share Expected for Ovid Therapeutics Inc (OVID) This Quarter

Brokerages expect that Ovid Therapeutics Inc (NASDAQ:OVID) will report ($0.60) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Ovid Therapeutics’ earnings. The lowest EPS estimate is ($0.61) and the highest is ($0.59). Ovid Therapeutics reported earnings per share of ($0.57) in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The firm is expected to announce its next earnings report on Thursday, August 9th.

On average, analysts expect that Ovid Therapeutics will report full-year earnings of ($2.59) per share for the current fiscal year, with EPS estimates ranging from ($2.98) to ($2.35). For the next year, analysts forecast that the firm will report earnings of ($2.99) per share, with EPS estimates ranging from ($4.05) to ($2.27). Zacks’ earnings per share averages are an average based on a survey of analysts that cover Ovid Therapeutics.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 8th. The company reported ($0.54) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.06).

Several research analysts have weighed in on the stock. LADENBURG THALM/SH SH began coverage on shares of Ovid Therapeutics in a report on Friday, April 20th. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research cut shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. ValuEngine raised shares of Ovid Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Piper Jaffray Companies began coverage on shares of Ovid Therapeutics in a report on Sunday, May 20th. They set a “buy” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Ovid Therapeutics has an average rating of “Hold” and a consensus target price of $19.33.

Ovid Therapeutics stock traded up $0.31 during trading hours on Friday, hitting $8.46. The company had a trading volume of 244,666 shares, compared to its average volume of 29,190. The stock has a market cap of $200.68 million and a P/E ratio of -2.53. Ovid Therapeutics has a one year low of $5.28 and a one year high of $12.97.

Institutional investors and hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC bought a new position in shares of Ovid Therapeutics during the fourth quarter worth approximately $106,000. DRW Securities LLC bought a new position in Ovid Therapeutics in the first quarter valued at approximately $108,000. California State Teachers Retirement System increased its stake in Ovid Therapeutics by 109.8% in the first quarter. California State Teachers Retirement System now owns 18,676 shares of the company’s stock valued at $132,000 after acquiring an additional 9,776 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Ovid Therapeutics by 41.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 20,510 shares of the company’s stock valued at $203,000 after acquiring an additional 6,010 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Ovid Therapeutics by 482.8% in the first quarter. JPMorgan Chase & Co. now owns 33,006 shares of the company’s stock valued at $233,000 after acquiring an additional 27,343 shares during the last quarter. 28.62% of the stock is currently owned by institutional investors.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

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

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