Ovid Therapeutics Q2 revenue beats estimates

The current average analyst rating on the shares is strong buy, with 10 strong buy or buy ratings, no hold ratings and no sell or strong sell ratings.

The median 12-month price target for Ovid Therapeutics Inc. is $5.00, about 90.8% above its August 12 closing price of $2.62.

Ovid Therapeutics said its second-quarter revenue beat analyst expectations, with revenue of $733,000 versus a consensus estimate of $0 from nine analysts.

The company reported a net loss of $15.009 million, or $0.08 per share, and operating expenses of $16.43 million.

Ovid said it secured equity and potential milestone payments and royalties from the transfer of soticlestat rights to a new company.

The company expects its cash runway to support operations into 2029. It anticipates results from the near year-end and expects to complete the in the second half of .