Canaccord Genuity Group Cuts Zevra Therapeutics (NASDAQ:ZVRA) Price Target to $22.00

Zevra Therapeutics (NASDAQ:ZVRA) had its target price decreased by research analysts at Canaccord Genuity Group from $24.00 to $22.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 176.73% from the company’s previous close.

Other analysts have also issued research reports about 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 report on Friday, August 30th. Finally, HC Wainwright increased their price objective 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 assigned a strong buy rating to the company. According to MarketBeat, Zevra Therapeutics currently has an average rating of “Buy” and a consensus target price of $20.75.

Zevra Therapeutics Price Performance

ZVRA stock traded up $0.42 on Wednesday, reaching $7.95. 765,801 shares of the company’s stock were exchanged, compared to its average volume of 439,985. 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 firm has a market cap of $332.73 million, a PE ratio of -5.96 and a beta of 1.94. Zevra Therapeutics has a twelve month low of $3.89 and a twelve month high of $8.44. The stock has a fifty day moving average of $6.91 and a 200-day moving average of $5.67.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.01). The firm had revenue of $4.45 million during the quarter, compared to analyst estimates 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 last year, the company posted ($0.15) EPS. As a group, equities analysts predict that Zevra Therapeutics will post -1.58 EPS for the current fiscal year.

Insider Activity at Zevra Therapeutics

In related news, Director Thomas Anderson acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were acquired at an average price of $6.81 per share, with a total value of $68,100.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $136,200. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 22,000 shares of company stock valued at $140,340 over the last quarter. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Zevra Therapeutics

Several large investors have recently added to or reduced their stakes in ZVRA. Vanguard Group Inc. raised its holdings in shares of Zevra Therapeutics by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,704,006 shares of the company’s stock worth $9,883,000 after purchasing an additional 58,866 shares during the period. Janney Montgomery Scott LLC raised its holdings 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 worth $4,476,000 after purchasing an additional 9,062 shares during the period. Retirement Planning Co of New England Inc. raised its holdings in shares of 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 worth $2,246,000 after purchasing an additional 28,107 shares during the period. Mystic Asset Management Inc. raised its holdings in shares of Zevra Therapeutics by 11.9% in the 2nd quarter. Mystic Asset Management Inc. now owns 297,947 shares of the company’s stock worth $1,460,000 after purchasing an additional 31,650 shares during the period. Finally, Armistice Capital LLC purchased a new position in shares of Zevra Therapeutics in the 4th quarter worth about $1,755,000. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

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.