Ovid Therapeutics
Develops targeted small molecules for neurological disorders involving neuronal hyperexcitability.
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Profile
Develops targeted small molecules for neurological disorders. Its pre-commercial pipeline combines GABA-AT and KCC2 programs with a partnership-led ROCK2 program, making clinical development and external collaboration central to its operating model.
Develops targeted small molecules for neurological disorders marked by neuronal hyperexcitability. Its pre-commercial pipeline includes OV329, a GABA-aminotransferase inhibitor for treatment-resistant focal-onset seizures and developmental and epileptic encephalopathies, and direct KCC2 activators such as OV4071 for CNS disorders.
A Graviton collaboration adds the OV888/GV101 ROCK2 program; Graviton is responsible through Phase 2 under joint oversight, with Ovid responsible afterward. The planned CCM Phase 2 initiation was paused as the partners evaluated competitor-trial learnings.
Work is concentrated in clinical development and mechanism selection rather than marketed products. Program progress depends on clinical development, external collaborations, and access to capital or co-development arrangements.
Company facts
Key statistics
Year to date +59.7% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 14, 2026 | Roth Capital | Target | $3 | $7 | ||
| Apr 9, 2026 | H.C. Wainwright | Target | $2 | $4 | ||
| Dec 11, 2025 | Roth Capital | Target | $3 | |||
| Nov 24, 2025 | H.C. Wainwright | Target | $3 | $2 | ||
| Jan 29, 2025 | Oppenheimer | Upgrade | Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$0.12 | −$0.08 | +30.4% | $21.4K | $733.0K | +3,320.6% | +6.87% |
| Aug 12, 2026Q2 FY26 | −$0.10 | −$0.08 | +20.0% | $21.4K | $733.0K | +3,320.6% | +1.55% |
| May 12, 2026Q1 FY26 | −$0.12 | −$0.12 | 0.0% | $56.7K | — | — | −2.44% |
| Mar 18, 2026Q4 FY25 | −$0.10 | $0.06 | +160.0% | $78.3K | $718.0K | +817.6% | 0.00% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $130.0K | $6.3M | $132.0K | $718.0K | $0 | $733.0K | |
| Gross profit | $130.0K | $6.3M | $132.0K | $718.0K | $0 | $733.0K | |
| Operating income | −$12.6M | −$5.1M | −$12.5M | −$12.3M | −$17.8M | −$15.7M | |
| Net income | −$10.2M | −$4.7M | −$12.2M | $9.7M | −$17.0M | −$15.0M | |
| Diluted EPS | −$0.14 | −$0.07 | −$0.17 | $0.12 | −$0.23 | −$0.20 | |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | — | 100.0% | |
| Operating margin | -9,653.8% | -80.9% | -9,487.1% | -1,712.1% | — | -2,141.6% |
Fiscal years (4-quarter sums)FY21 $208.4M · FY22 $1.5M · FY23 $392.0K · FY24 $566.0K · FY25 $7.3M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $117.2M · Total debt $12.7M · Total assets $232.0M · Shareholders' equity $209.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 186.64M · Float 154.02M · 82.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Sirenia Capital Management LP | 18.03M | 9.90% | 13G | May 15, 2026 |
| Affinity Asset Advisors, LLC | 15.64M | 9.10% | 13G | May 14, 2026 |
| Eventide Asset Management, LLC | 12.77M | 7.30% | 13G | May 15, 2026 |
| BlackRock, Inc. | 10.82M | 5.80% | 13G | Jul 29, 2026 |
| Ra Capital Management, L.P. | 10.71M | 5.74% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 23, 2026 | Jeffrey A. Rona | officer: CBFO | −8,541 | $1.45 |
| Feb 23, 2026 | Margaret A. Alexander | director, officer: President and CEO | −11,656 | $1.45 |
| Dec 11, 2025 | Jeremy M. Levin | director, officer: CEO | +82,904 | $1.40 |
Peers
- Xenon Pharmaceuticals
Late-stage oral therapy for focal-onset seizures
- Jazz Pharmaceuticals
Approved therapy across TSC and rare developmental epilepsies
- Praxis Precision Medicines
Investigational oral program for adult focal-onset seizures
- Stoke Therapeutics
Phase 3 RNA medicine for Dravet syndrome seizures
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ovid Therapeutics | $2.81 | 0.00% | $522.6M | — | — | 330.1 | −88.3% |
| Xenon Pharmaceuticals | $59.99 | 0.00% | $5.80B | — | — | — | — |
| Jazz Pharmaceuticals | $244.54 | +0.02% | $15.36B | 16.7 | 9.7 | 3.3 | +15.6% |
| Praxis Precision Medicines | $344.75 | −0.11% | $9.61B | — | — | — | — |
| Stoke Therapeutics | $31.62 | +0.03% | $2.04B | — | — | 74.0 | −32.5% |
| Median | 16.7 | 9.7 | 38.6 | −8.5% |