Zevra Therapeutics (NASDAQ:ZVRA) PT Lowered to $22.00 at Canaccord Genuity Group

Zevra Therapeutics (NASDAQ:ZVRA) had its target price cut by Canaccord Genuity Group from $24.00 to $22.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently commented on the company. Cantor Fitzgerald reissued 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 report on Friday, August 30th. Finally, HC Wainwright boosted their price target on shares of Zevra Therapeutics from $15.00 to $18.00 and gave the company a buy rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zevra Therapeutics currently has a consensus rating of Buy and an average target price of $21.25.

Zevra Therapeutics Price Performance

Shares of NASDAQ:ZVRA opened at $8.06 on Wednesday. The company has a market cap of $337.34 million, a price-to-earnings ratio of -5.97 and a beta of 1.94. The business has a 50 day moving average price of $7.04 and a 200 day moving average price of $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. Zevra Therapeutics has a twelve month low of $3.89 and a twelve month high of $8.95.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings data 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). The company had revenue of $4.45 million during the quarter, compared to analyst estimates of $4.08 million. Zevra Therapeutics had a negative return on equity of 124.85% and a negative net margin of 274.10%. During the same quarter in the previous year, the business posted ($0.15) EPS. Research analysts predict that Zevra Therapeutics will post -1.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thomas Anderson bought 10,000 shares of Zevra Therapeutics stock in a transaction dated Tuesday, July 16th. The shares were bought at an average price of $6.81 per share, for a total transaction of $68,100.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at $136,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 22,000 shares of company stock worth $140,340 in the last 90 days. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZVRA. Vanguard Group Inc. raised its position in Zevra Therapeutics by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,704,006 shares of the company’s stock valued at $9,883,000 after purchasing an additional 58,866 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Zevra Therapeutics by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 683,431 shares of the company’s stock worth $4,476,000 after buying an additional 9,062 shares in the last quarter. Retirement Planning Co of New England Inc. grew its holdings in Zevra Therapeutics by 6.5% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 458,300 shares of the company’s stock worth $2,246,000 after acquiring an additional 28,107 shares during the last quarter. Mystic Asset Management Inc. increased its position 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 acquiring an additional 31,650 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in shares of Zevra Therapeutics in the fourth quarter worth about $1,755,000. 35.03% of the stock is owned by institutional investors and hedge funds.

Zevra Therapeutics Company Profile

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.