Ovid Therapeutics (NASDAQ:OVID) Releases Earnings Results, Misses Estimates By $0.04 EPS

Ovid Therapeutics (NASDAQ:OVID) posted its earnings results on Tuesday, May 7th. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.04), MarketWatch Earnings reports.

NASDAQ:OVID opened at $1.59 on Friday. The company has a market capitalization of $65.39 million, a P/E ratio of -0.75 and a beta of 2.10. Ovid Therapeutics has a 1-year low of $1.55 and a 1-year high of $11.45. The company has a quick ratio of 7.78, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its position in Ovid Therapeutics by 225.6% in the first quarter. Morgan Stanley now owns 125,906 shares of the company’s stock valued at $224,000 after purchasing an additional 87,238 shares during the last quarter. Geode Capital Management LLC lifted its position in Ovid Therapeutics by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock valued at $231,000 after purchasing an additional 6,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Ovid Therapeutics by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 87,257 shares of the company’s stock valued at $211,000 after purchasing an additional 8,995 shares during the last quarter. Hedge funds and other institutional investors own 31.73% of the company’s stock.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Ovid Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Piper Jaffray Companies cut their price objective on Ovid Therapeutics to $14.00 and set an “overweight” rating for the company in a report on Sunday, March 10th. JMP Securities dropped their target price on Ovid Therapeutics from $26.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, March 8th. ValuEngine downgraded Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Finally, LADENBURG THALM/SH SH restated a “buy” rating and issued a $27.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $12.85.

ILLEGAL ACTIVITY NOTICE: This article was published by Rockland Register and is the property of of Rockland Register. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://rocklandregister.com/2019/05/31/ovid-therapeutics-ovid-releases-earnings-results-misses-expectations-by-0-04-eps.html.

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.

Recommended Story: Determine Your Level of Risk Tolerance

Earnings History for Ovid Therapeutics (NASDAQ:OVID)

Receive News & Ratings for Ovid Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovid Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.