Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Ovid Therapeutics, driven by higher revenues, but actual results compared to estimates will significantly influence the stock price [1][2]. Earnings Expectations - Ovid Therapeutics is expected to report a quarterly loss of $0.15 per share, reflecting a year-over-year change of +25% [3]. - Revenues are projected to be $0.34 million, representing a 100% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 5.26% higher in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Ovid is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -4.50%, suggesting a bearish outlook from analysts [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, with positive readings being more reliable [9][10]. - Ovid's current Zacks Rank is 3, which complicates predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, Ovid was expected to post a loss of $0.16 per share but actually reported a loss of -$0.06, achieving a surprise of +62.50% [13]. - Over the past four quarters, Ovid has beaten consensus EPS estimates two times [14]. Industry Context - Avidity Biosciences, a peer in the Zacks Medical - Biomedical and Genetics industry, is expected to report a loss of $1.05 per share, indicating a year-over-year change of -61.5% [18]. - Avidity's revenue is expected to be $2.5 million, up 6.8% from the previous year, but it also has a negative Earnings ESP of -9.35% [19][20].
Ovid Therapeutics (OVID) May Report Negative Earnings: Know the Trend Ahead of Q3 Release