Cantor Fitzgerald Upgrades Zevra Therapeutics (NASDAQ:ZVRA) to Strong-Buy

Cantor Fitzgerald upgraded shares of Zevra Therapeutics (NASDAQ:ZVRA) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Zevra Therapeutics in a report on Wednesday, November 20th. Canaccord Genuity Group dropped their price target on shares of Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Guggenheim assumed coverage on shares of Zevra Therapeutics in a research report on Monday, October 7th. They issued a “buy” rating and a $20.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $21.57.

Zevra Therapeutics Stock Performance

ZVRA opened at $7.84 on Wednesday. Zevra Therapeutics has a 1-year low of $4.20 and a 1-year high of $9.76. The company has a market cap of $418.50 million, a price-to-earnings ratio of -3.98 and a beta of 2.01. The company’s fifty day moving average price is $8.52 and its two-hundred day moving average price is $7.93. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.84.

Zevra Therapeutics (NASDAQ:ZVRA) last announced 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 business had revenue of $3.70 million during the quarter, compared to the consensus estimate 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 business posted ($0.40) EPS. On average, analysts expect that Zevra Therapeutics will post -1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Zevra Therapeutics

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Zevra Therapeutics by 15.2% during 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. Sanctuary Advisors LLC purchased a new stake in shares of Zevra Therapeutics during the 2nd quarter valued at approximately $474,000. SG Americas Securities LLC purchased a new position in Zevra Therapeutics in the 3rd quarter valued at approximately $105,000. City State Bank raised its holdings in Zevra Therapeutics by 14.1% during the 3rd quarter. City State Bank now owns 16,224 shares of the company’s stock valued at $113,000 after acquiring an additional 2,000 shares during the period. Finally, IFG Advisors LLC grew its position in shares of Zevra Therapeutics by 41.2% in the third quarter. IFG Advisors LLC now owns 26,400 shares of the company’s stock valued at $183,000 after purchasing an additional 7,700 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.