Ovid Therapeutics (NASDAQ:OVID) Releases Earnings Results, Beats Expectations By $0.02 EPS

Ovid Therapeutics (NASDAQ:OVID) announced its quarterly earnings results on Friday. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02, MarketWatch Earnings reports.

Shares of OVID stock traded down $0.05 on Friday, reaching $2.55. The company had a trading volume of 4,374,500 shares, compared to its average volume of 465,926. Ovid Therapeutics has a 12 month low of $1.53 and a 12 month high of $5.86. The company has a 50-day moving average of $2.51 and a 200-day moving average of $2.11. The company has a current ratio of 5.84, a quick ratio of 5.84 and a debt-to-equity ratio of 0.01. The stock has a market cap of $105.25 million, a PE ratio of -1.21 and a beta of 2.38.

A number of brokerages have recently commented on OVID. Piper Jaffray Companies set a $14.00 price target on Ovid Therapeutics and gave the company a “buy” rating in a research note on Monday, September 23rd. Zacks Investment Research raised Ovid Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Thursday, September 5th. ValuEngine raised Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada began coverage on Ovid Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $12.00 price target for the company. Finally, Citigroup upped their price target on Ovid Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $12.29.

In other Ovid Therapeutics news, CEO Jeremy M. Levin purchased 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $2.13 per share, for a total transaction of $127,800.00. 29.80% of the stock is currently owned by corporate insiders.

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 for Ovid Therapeutics (NASDAQ:OVID)

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