Zevra Therapeutics (NASDAQ:ZVRA) PT Lowered to $22.00

Zevra Therapeutics (NASDAQ:ZVRA) had its price target reduced by Canaccord Genuity Group from $24.00 to $22.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald reaffirmed an overweight rating on shares of Zevra Therapeutics in a report on Wednesday, August 14th. William Blair raised Zevra Therapeutics to a strong-buy rating in a research note on Friday, August 30th. Finally, HC Wainwright increased their target price on Zevra Therapeutics from $15.00 to $18.00 and gave the company a buy rating in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $21.25.

Zevra Therapeutics Price Performance

Zevra Therapeutics stock opened at $8.06 on Wednesday. The business’s 50-day simple moving average is $7.04 and its 200 day simple moving average is $5.71. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The stock has a market cap of $337.34 million, a price-to-earnings ratio of -5.97 and a beta of 1.94. Zevra Therapeutics has a 12-month low of $3.89 and a 12-month high of $8.95.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.01). Zevra Therapeutics had a negative net margin of 274.10% and a negative return on equity of 124.85%. The business had revenue of $4.45 million during the quarter, compared to the consensus estimate of $4.08 million. During the same period last year, the business posted ($0.15) EPS. As a group, research analysts anticipate that Zevra Therapeutics will post -1.58 earnings per share for the current year.

Insider Activity

In other Zevra Therapeutics news, Director John B. Bode acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were acquired at an average price of $5.87 per share, with a total value of $58,700.00. Following the purchase, the director now owns 30,000 shares of the company’s stock, valued at approximately $176,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 22,000 shares of company stock valued at $140,340 in the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Zevra Therapeutics

Several hedge funds have recently bought and sold shares of ZVRA. The Manufacturers Life Insurance Company increased its position in shares of Zevra Therapeutics by 15.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock worth $91,000 after acquiring an additional 2,452 shares in the last quarter. IFG Advisors LLC boosted its stake in Zevra Therapeutics by 45.0% in the 1st quarter. IFG Advisors LLC now owns 18,700 shares of the company’s stock worth $108,000 after purchasing an additional 5,800 shares during the period. Rhumbline Advisers increased its holdings in 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 in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Zevra Therapeutics by 1.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 683,431 shares of the company’s stock valued at $4,476,000 after purchasing an additional 9,062 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Zevra Therapeutics in the first quarter valued at about $64,000. 35.03% of the stock is currently owned by institutional investors and hedge funds.

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.