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

Zevra Therapeutics (NASDAQ:ZVRA) had its price objective decreased by equities research analysts at Canaccord Genuity Group from $24.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 176.73% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 14th. William Blair upgraded Zevra Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, HC Wainwright lifted 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zevra Therapeutics currently has a consensus rating of “Buy” and an average price target of $20.75.

Zevra Therapeutics Trading Up 5.6 %

Zevra Therapeutics stock traded up $0.42 during midday trading on Wednesday, reaching $7.95. 765,801 shares of the stock traded hands, compared to its average volume of 439,985. The company has a 50-day simple moving average of $6.91 and a two-hundred day simple moving average of $5.67. Zevra Therapeutics has a 12-month low of $3.89 and a 12-month high of $8.44. The firm has a market cap of $332.73 million, a PE ratio of -5.96 and a beta of 1.94. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.80.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its earnings results 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 for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned ($0.15) earnings per share. Research analysts expect that Zevra Therapeutics will post -1.58 earnings per share for the current fiscal year.

Insider Transactions at Zevra Therapeutics

In other Zevra Therapeutics news, Director John B. Bode bought 10,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average price of $5.87 per share, with a total value of $58,700.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at $176,100. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 22,000 shares of company stock valued at $140,340. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Zevra Therapeutics during the second quarter worth approximately $474,000. The Manufacturers Life Insurance Company raised its stake in shares of Zevra Therapeutics by 15.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock worth $91,000 after purchasing an additional 2,452 shares during the last quarter. Retirement Planning Co of New England Inc. raised its stake in shares of Zevra Therapeutics by 6.5% during the second 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 last quarter. Mystic Asset Management Inc. raised its stake in shares of Zevra Therapeutics by 11.9% during the second 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 last quarter. Finally, Rhumbline Advisers raised its stake in shares of Zevra Therapeutics by 17.9% during the second quarter. Rhumbline Advisers now owns 56,874 shares of the company’s stock worth $279,000 after purchasing an additional 8,619 shares during the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.

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.