Canaccord Genuity Group Has Lowered Expectations for Zevra Therapeutics (NASDAQ:ZVRA) Stock Price

Zevra Therapeutics (NASDAQ:ZVRA) had its target price lowered by equities researchers at Canaccord Genuity Group from $25.00 to $23.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 166.82% from the company’s current price.

ZVRA has been the subject of several other research reports. William Blair raised shares of Zevra Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Roth Mkm lifted their target price on Zevra Therapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Guggenheim started coverage on Zevra Therapeutics in a research note on Monday, October 7th. They issued a “buy” rating and a $20.00 price target for the company. JMP Securities initiated coverage on Zevra Therapeutics in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Zevra Therapeutics in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zevra Therapeutics currently has an average rating of “Buy” and an average price target of $21.00.

Zevra Therapeutics Stock Performance

NASDAQ ZVRA opened at $8.62 on Thursday. The firm’s fifty day moving average price is $8.03 and its two-hundred day moving average price is $6.49. The stock has a market cap of $453.57 million, a PE ratio of -4.38 and a beta of 1.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00. Zevra Therapeutics has a fifty-two week low of $4.18 and a fifty-two week high of $9.21.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) earnings per share 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 the consensus estimate of $4.08 million. Zevra Therapeutics had a negative return on equity of 177.96% and a negative net margin of 342.63%. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, equities analysts expect that Zevra Therapeutics will post -1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Zevra Therapeutics

Several institutional investors have recently added to or reduced their stakes in ZVRA. International Assets Investment Management LLC lifted its stake in shares of Zevra Therapeutics by 594.0% in the third quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock valued at $48,000 after buying an additional 5,940 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Zevra Therapeutics during the 1st quarter worth approximately $64,000. The Manufacturers Life Insurance Company raised its stake in shares of Zevra Therapeutics by 15.2% in 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. Hunter Associates Investment Management LLC purchased a new stake in shares of Zevra Therapeutics in the third quarter worth approximately $92,000. Finally, XTX Topco Ltd bought a new position in shares of Zevra Therapeutics in the third quarter valued at approximately $94,000. 35.03% of the stock is owned by institutional investors and hedge funds.

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.