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

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

Other research analysts have also issued research reports about the company. Guggenheim started coverage on Zevra Therapeutics in a report on Monday, October 7th. They issued a “buy” rating and a $20.00 price target on the stock. JMP Securities assumed coverage on Zevra Therapeutics in a report on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 target price on the stock. William Blair upgraded Zevra Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Maxim Group raised their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Zevra Therapeutics in a report on Friday, October 11th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zevra Therapeutics currently has an average rating of “Buy” and an average target price of $21.00.

Zevra Therapeutics Price Performance

Zevra Therapeutics stock opened at $8.62 on Thursday. The company has a market capitalization of $453.58 million, a PE ratio of -4.38 and a beta of 1.93. The stock has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $6.50. The company has a current ratio of 2.88, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. Zevra Therapeutics has a 12 month low of $4.18 and a 12 month high of $9.21.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.25). The company had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.04 million. Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 159.54%. During the same period in the previous year, the company posted ($0.40) EPS. Analysts expect that Zevra Therapeutics will post -1.92 EPS for the current year.

Institutional Investors Weigh In On Zevra Therapeutics

Several hedge funds have recently added to or reduced their stakes in ZVRA. FMR LLC lifted its stake in Zevra Therapeutics by 282,687.5% during the third quarter. FMR LLC now owns 2,313,202 shares of the company’s stock worth $16,054,000 after purchasing an additional 2,312,384 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in Zevra Therapeutics during the 3rd quarter valued at about $4,858,000. Vestal Point Capital LP purchased a new position in Zevra Therapeutics during the 3rd quarter valued at about $3,644,000. Propel Bio Management LLC purchased a new position in shares of Zevra Therapeutics during the 3rd quarter worth approximately $1,248,000. Finally, Geode Capital Management LLC grew its holdings in shares of Zevra Therapeutics by 14.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,043,864 shares of the company’s stock worth $7,246,000 after acquiring an additional 129,600 shares during the period. 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.