Ovid Therapeutics (NASDAQ:OVID) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Ovid Therapeutics (NASDAQ:OVID) announced its quarterly 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 Price Performance

Shares of OVID stock traded down $0.03 during mid-day trading on Tuesday, reaching $2.83. The stock had a trading volume of 944,430 shares, compared to its average volume of 2,309,290. The company has a market cap of $551.72 million, a P/E ratio of -9.14 and a beta of 0.24. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.05. Ovid Therapeutics has a 12-month low of $1.18 and a 12-month high of $3.11. The business has a 50-day simple moving average of $2.51 and a 200 day simple moving average of $2.38.

Analyst Upgrades and Downgrades

OVID has been the topic of several research reports. UBS Group reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Friday, September 11th. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Thursday, October 15th. Cantor Fitzgerald initiated coverage on shares of Ovid Therapeutics in a report on Friday, October 9th. They set an “overweight” rating for the company. Finally, Oppenheimer upped their target price on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ovid Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $6.00.

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.