Ovid Therapeutics (NASDAQ:OVID – Get Free Report) released its earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02), Zacks reports.
Here are the key takeaways from Ovid Therapeutics’ conference call:
- OV329 is advancing through epilepsy trials, but efficacy remains unproven. Ovid expects a small photosensitivity study to read out in Q1 2027 and its 12-week Phase II study in the second half of 2027; management views at least 30% seizure reduction as competitive, while cautioning that the photosensitivity test is not a substitute for Phase II results.
- Long-term eye safety is still a key question for OV329. The predecessor vigabatrin was linked to irreversible retinal toxicity; Ovid says preclinical work supports a compound-specific issue and reports no signal so far, but its Phase I study was short, so the company plans rigorous eye monitoring in Phase II and long-term extensions.
- Ovid said it is on track to start a tuberous sclerosis complex study before year-end, using a pediatric formulation designed for young patients. The trial will assess seizure reduction and seizure freedom, with behavior and sleep among exploratory measures; no clinical results were disclosed.
- The company is positioning KCC2 activator OV4071 as a potential broad-neurology opportunity. It is in Phase I, which management described as progressing well on safety and tolerability, with a translational study expected to read out in Q1 2027; schizophrenia is the planned initial proof-of-concept indication, with other potential uses still exploratory.
Ovid Therapeutics Stock Performance
OVID stock traded down $0.07 during trading hours on Tuesday, reaching $2.77. The stock had a trading volume of 1,088,334 shares, compared to its average volume of 2,309,551. The stock has a market capitalization of $541.96 million, a PE ratio of -9.08 and a beta of 0.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.39 and a quick ratio of 12.39. The stock has a 50-day simple moving average of $2.51 and a 200 day simple moving average of $2.38. Ovid Therapeutics has a fifty-two week low of $1.18 and a fifty-two week high of $3.11.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. HC Wainwright increased their price objective on shares of Ovid Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. UBS Group reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, September 11th. Guggenheim began coverage on Ovid Therapeutics in a report on Tuesday, October 6th. They set a “buy” rating and a $7.00 target price on the stock. Oppenheimer increased their price target on Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Wolfe Research initiated coverage on Ovid Therapeutics in a research note on Thursday, October 15th. They issued an “outperform” rating and a $5.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Ovid Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.
Read Our Latest Report on Ovid Therapeutics
About Ovid Therapeutics
Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines for epilepsies and other disorders of the central nervous system. The company’s research has concentrated on conditions with significant unmet medical needs, including rare epileptic and neurodevelopmental disorders.
Ovid’s pipeline has included soticlestat, an investigational therapy developed in collaboration with Takeda Pharmaceutical Company for developmental and epileptic encephalopathies such as Dravet syndrome and Lennox-Gastaut syndrome.
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