# Ovid Therapeutics Inc. (OVID)

> Source: Nexqual · https://nexqual.com/OVID · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Ovid Therapeutics Inc. (OVID), nexqual.com/OVID" · informational, not investment advice.

**Price:** USD 2.56 (+4.49% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 2.45 · day 2.41–2.58 · 52w 1.18–3.11 · market cap $500M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.6M, net income -$34.5M (-2178.9% margin) (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (13 analysts), mean target USD 6.4 (range 4–9).
- Total return with dividends: 1Y +78.8% vs S&P 500 +14.8%; 5Y -24.7% vs S&P 500 +79.1%.
- Next earnings: 2026-11-11 (date not yet confirmed by the company), EPS estimate USD -0.08, revenue estimate $26K. All companies reporting that day: https://nexqual.com/earnings/2026-11-11
- Dividend: OVID paid no cash dividend in the last five years.
- Short interest: 10.59% of float (as of 2026-10-15), 10.2 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $208M | $1.5M | $392K | $566K | $7.3M | $1.6M |
| Operating income | $124M | -$55.5M | -$59.3M | -$61.9M | -$42.4M | -$58.4M |
| Net income | $123M | -$54.2M | -$52.3M | -$26.4M | -$17.4M | -$34.5M |
| EPS (diluted) | $1.76 | -$0.77 | -$0.74 | — | — | — |
| Free cash flow | $118M | -$56.5M | -$45.8M | -$56.0M | -$38.3M | — |
| Operating margin | 59.6% | -3696.4% | -15122.7% | -10933.7% | -585.2% | -3686.7% |
| Net margin | 58.9% | -3604.7% | -13351.8% | -4670.1% | -240.1% | -2178.9% |
| Revenue growth | +1551.6% | -99.3% | -73.9% | +44.4% | +1181.3% | — |
| Cash + short-term investments | $188M | $129M | $106M | $53.1M | $90.4M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 315.8x · P/B 2.4x · Earnings yield -6.90%

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 13 analysts; mean target USD 6.4 (low 4, high 9).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Wolfe Research | Initiated | Outperform | $5 |
| 2026-10-09 | Cantor Fitzgerald | Initiated | Overweight |  |
| 2026-10-06 | Guggenheim | Initiated | Buy | $7 |
| 2026-10-05 | Guggenheim | Initiated | Buy | $7 |
| 2026-09-11 | HC Wainwright & Co. | Target raised | Buy | $4 → $5 |
| 2026-08-03 | Oppenheimer | Target raised | Outperform | $7 → $9 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +78.8% | -24.7% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +79.5% | -5.5% |
| Volatility (annualized) | 74.3% | 96.7% |
| Max drawdown | -27.4% (Apr 2026→Oct 2026) | -93.2% (Sep 2023→May 2025) |

## Dividends
OVID paid no cash dividend in the last five years.

## Short interest
18,068,171 shares sold short, 10.59% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 21,151,179 shares (-14.6%). Days to cover: 10.2 (short shares ÷ average daily volume).

## Peers (Biotechnology)
ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · IOVA (Iovance Biotherapeutics, Inc.) USD 9.56 -35.45% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · ABVX (Abivax SA) USD 89.06 -0.87%

## More
Full page: https://nexqual.com/OVID · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in OVID's own 10-K filed 2026-03-18 (https://www.sec.gov/Archives/edgar/data/1636651/000162828026019438/ovid-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Marinus Pharmaceuticals | "In March 2022, we entered into an exclusive patent license agreement with Marinus Pharmaceuticals, Inc. ("Marinus") ("Marinus License Agreement")." |
| Partner | Gensaic | "We also entered into a collaboration agreement with Gensaic (the "Gensaic Collaboration Agreement") to potentially develop up to three genetic medicines for neurological indications of interest to us, harnessing Gensaic'…" |

## Company outlook (8-K filed 2026-03-18)

- "Additionally the Company announced it will add complementary development programs for OV329, expanding into tuberous sclerosis complex (TSC) seizures and infantile spasms (IS) which is funded by a private placement financing expected to result in gross proceeds of $60.0 million, before deducting placement agent fees and offering expenses."
- "Findings confirm OV329 penetrates the brain, engages the target, and achieves biological modulation as expected of elevated levels of GABA, the major inhibitory neurotransmitter."
- "In parallel, the Company is advancing plans for a Phase 2 randomized, placebo-controlled trial, which is expected to evaluate two dose levels and determine seizure reduction efficacy in people living with treatment-resistant FOS."
- "Ovid is engaged in regulatory conversations and currently anticipates initiating the Phase 2 study in the second quarter of 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.08 | $-0.11 | +$0.02 | $26,310 | 9 |
| Next quarter (ends 2026-12-31) | $-0.08 | $-0.11 | +$0.03 | $75,770 | 9 |
| Current fiscal year (ends 2026-12-31) | $-0.36 | $-0.44 | +$0.08 | $791,620 | 9 |
| Next fiscal year (ends 2027-12-31) | $-0.37 | $-0.45 | +$0.09 | $325,620 | 9 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.08 | −$0.10 | Beat +20.0% | — |
| — | Quarter ended Mar 31, 2026 | −$0.12 | −$0.11 | Miss −9.1% | — |
| — | Quarter ended Dec 31, 2025 | $0.06 | −$0.10 | Beat +$0.16 | — |
| — | Quarter ended Sep 30, 2025 | −$0.17 | −$0.15 | Miss −13.3% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).