Zevra Therapeutics (NASDAQ:ZVRA) Price Target Cut to $22.00

Zevra Therapeutics (NASDAQ:ZVRA) had its price target lowered by Canaccord Genuity Group from $24.00 to $22.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 174.31% from the company’s current price.

Several other research analysts have also recently issued reports on ZVRA. HC Wainwright increased their price objective on Zevra Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. William Blair raised shares of Zevra Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Zevra Therapeutics has a consensus rating of “Buy” and an average price target of $20.75.

Zevra Therapeutics Stock Up 2.4 %

Shares of Zevra Therapeutics stock opened at $8.02 on Wednesday. Zevra Therapeutics has a one year low of $3.89 and a one year high of $8.44. The company has a market cap of $335.66 million, a P/E ratio of -5.94 and a beta of 1.94. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a fifty day moving average of $7.00 and a two-hundred day moving average of $5.70.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). The business had revenue of $4.45 million during the quarter, compared to analysts’ expectations of $4.08 million. Zevra Therapeutics had a negative net margin of 274.10% and a negative return on equity of 124.85%. During the same period in the prior year, the firm posted ($0.15) EPS. On average, analysts forecast that Zevra Therapeutics will post -1.58 earnings per share for the current year.

Insider Buying and Selling at Zevra Therapeutics

In other news, Director Thomas Anderson purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was acquired at an average price of $6.81 per share, with a total value of $68,100.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $136,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have bought 22,000 shares of company stock valued at $140,340. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZVRA. Sanctuary Advisors LLC purchased a new position in Zevra Therapeutics during the second quarter worth $474,000. The Manufacturers Life Insurance Company raised its stake in Zevra Therapeutics by 15.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock valued at $91,000 after purchasing an additional 2,452 shares during the last quarter. Retirement Planning Co of New England Inc. raised its stake in Zevra Therapeutics by 6.5% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 458,300 shares of the company’s stock valued at $2,246,000 after purchasing an additional 28,107 shares during the last quarter. Mystic Asset Management Inc. lifted its holdings in Zevra Therapeutics by 11.9% in the 2nd quarter. Mystic Asset Management Inc. now owns 297,947 shares of the company’s stock valued at $1,460,000 after purchasing an additional 31,650 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Zevra Therapeutics by 17.9% during the 2nd quarter. Rhumbline Advisers now owns 56,874 shares of the company’s stock worth $279,000 after purchasing an additional 8,619 shares during the last quarter. 35.03% of the stock is owned by hedge funds and other institutional investors.

About Zevra Therapeutics

Zevra Therapeutics, Inc discovers and develops various proprietary prodrugs to treat serious medical conditions in the United States. The company develops its products through Ligand Activated Therapy platform. Its lead product candidate is KP1077, consisting of KP1077IH, which is under Phase 2 clinical trial for the treatment of idiopathic hypersomnia, and KP1077N, which is under Phase ½ clinical trial to treat narcolepsy.