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

Zevra Therapeutics (NASDAQ:ZVRA) had its price target cut by Canaccord Genuity Group from $25.00 to $23.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm boosted their price target on Zevra Therapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Maxim Group upped their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Zevra Therapeutics in a research note on Friday, October 11th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Zevra Therapeutics in a research note on Monday, September 30th. Finally, JMP Securities started coverage on Zevra Therapeutics in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zevra Therapeutics has an average rating of “Buy” and an average price target of $21.00.

Zevra Therapeutics Price Performance

Shares of Zevra Therapeutics stock opened at $8.62 on Thursday. The company has a current ratio of 2.88, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $6.50. Zevra Therapeutics has a 52 week low of $4.18 and a 52 week high of $9.21. The stock has a market cap of $453.58 million, a PE ratio of -4.38 and a beta of 1.93.

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

Institutional Investors Weigh In On Zevra Therapeutics

A number of hedge funds have recently modified their holdings of ZVRA. International Assets Investment Management LLC lifted its stake in Zevra Therapeutics by 594.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock valued at $48,000 after acquiring an additional 5,940 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Zevra Therapeutics in the 1st quarter valued at $64,000. The Manufacturers Life Insurance Company grew its holdings in Zevra Therapeutics by 15.2% in 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 in the last quarter. Hunter Associates Investment Management LLC acquired a new position in Zevra Therapeutics in the 3rd quarter valued at $92,000. Finally, XTX Topco Ltd acquired a new position in Zevra Therapeutics in the 3rd quarter valued at $94,000. Institutional investors and hedge funds 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.