Ovid Therapeutics (US:OVID) ZACKS·2024-11-12 15:31Company Performance - Ovid Therapeutics reported a quarterly loss of $0.20 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.19, and compared to a loss of $0.16 per share a year ago, indicating a negative earnings surprise of -5.26% [1] - The company posted revenues of $0.17 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 15.33%, and showing an increase from $0.11 million in the same quarter last year [2] - Over the last four quarters, Ovid Therapeutics has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - Ovid Therapeutics shares have declined approximately 57.8% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The current Zacks Rank for Ovid Therapeutics is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.16 on revenues of $0.16 million, and for the current fiscal year, it is -$0.49 on revenues of $0.56 million [7] - The estimate revisions trend for Ovid Therapeutics is mixed, and changes in earnings expectations may occur following the recent earnings report [6] Industry Context - Ovid Therapeutics operates within the Medical - Biomedical and Genetics industry, which is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]