Zevra Therapeutics (NASDAQ:ZVRA) Price Target Cut to $23.00 by Analysts at Canaccord Genuity Group

Zevra Therapeutics (NASDAQ:ZVRA) had its target price trimmed by Canaccord Genuity Group from $25.00 to $23.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

ZVRA has been the topic of several other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zevra Therapeutics in a research note on Friday, October 11th. Guggenheim initiated coverage on shares of Zevra Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $20.00 price target on the stock. William Blair upgraded shares of Zevra Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. JMP Securities assumed coverage on Zevra Therapeutics in a report on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Zevra Therapeutics in a research report on Monday, September 30th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $21.00.

Zevra Therapeutics Stock Performance

NASDAQ:ZVRA traded down $0.11 during mid-day trading on Thursday, hitting $8.92. The stock had a trading volume of 216,386 shares, compared to its average volume of 543,138. Zevra Therapeutics has a twelve month low of $4.18 and a twelve month high of $9.21. The company’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $6.44. The stock has a market cap of $469.35 million, a price-to-earnings ratio of -4.58 and a beta of 1.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.01). The business had revenue of $4.45 million for the quarter, compared to the consensus estimate of $4.08 million. Zevra Therapeutics had a negative return on equity of 177.96% and a negative net margin of 342.63%. During the same period in the previous year, the firm earned ($0.15) earnings per share. On average, equities research analysts forecast that Zevra Therapeutics will post -1.63 earnings per share for the current year.

Institutional Trading of Zevra Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in Zevra Therapeutics by 594.0% during the third quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock worth $48,000 after purchasing an additional 5,940 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Zevra Therapeutics during the first quarter worth about $64,000. The Manufacturers Life Insurance Company raised its position 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 buying an additional 2,452 shares during the last quarter. Hunter Associates Investment Management LLC bought a new position in shares of Zevra Therapeutics during the 3rd quarter worth approximately $92,000. Finally, Intech Investment Management LLC acquired a new stake in Zevra Therapeutics during the 3rd quarter worth approximately $95,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

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.