JMP Securities Initiates Coverage on Zevra Therapeutics (NASDAQ:ZVRA)

JMP Securities started coverage on shares of Zevra Therapeutics (NASDAQ:ZVRA) in a research report issued on Tuesday, Briefing.com reports. The firm set an “outperform” rating and a $17.00 price target on the stock. JMP Securities’ target price points to a potential upside of 124.27% from the company’s previous close.

A number of other research analysts also recently weighed in on ZVRA. Cantor Fitzgerald restated an “overweight” rating on shares of Zevra Therapeutics in a report on Wednesday, August 14th. Canaccord Genuity Group reduced their price target on Zevra Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. HC Wainwright increased their price objective on Zevra Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday. Maxim Group boosted their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, William Blair upgraded shares of Zevra Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $21.80.

Zevra Therapeutics Stock Performance

Shares of ZVRA stock opened at $7.58 on Tuesday. Zevra Therapeutics has a fifty-two week low of $3.89 and a fifty-two week high of $8.95. The stock’s 50-day moving average is $7.07 and its two-hundred day moving average is $5.72. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market cap of $317.25 million, a P/E ratio of -5.61 and a beta of 1.94.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 124.85% and a negative net margin of 274.10%. During the same quarter in the prior year, the company posted ($0.15) EPS. Analysts predict that Zevra Therapeutics will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John B. Bode acquired 10,000 shares of the stock in a transaction dated Friday, July 12th. The shares were bought at an average cost of $5.87 per share, for a total transaction of $58,700.00. Following the purchase, the director now owns 30,000 shares in the company, valued at approximately $176,100. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 22,000 shares of company stock worth $140,340 over the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Zevra Therapeutics

Several large investors have recently made changes to their positions in ZVRA. Price T Rowe Associates Inc. MD acquired a new position in Zevra Therapeutics in the first quarter valued at about $64,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Zevra Therapeutics by 15.2% in the 2nd 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. Focus Financial Network Inc. ADV bought a new stake in Zevra Therapeutics during the 4th quarter worth approximately $141,000. Virtu Financial LLC acquired a new stake in Zevra Therapeutics during the 4th quarter valued at $177,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Zevra Therapeutics by 102.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 34,707 shares of the company’s stock valued at $201,000 after purchasing an additional 17,557 shares in the last quarter. Institutional investors 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.