Zevra Therapeutics (NASDAQ:ZVRA) Given New $23.00 Price Target at Canaccord Genuity Group

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

Several other research firms have also recently issued reports on ZVRA. William Blair upgraded Zevra Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Zevra Therapeutics in a report on Monday, September 30th. Roth Mkm increased their price objective on shares of Zevra Therapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Zevra Therapeutics in a report on Friday, October 11th. Finally, Guggenheim initiated coverage on shares of Zevra Therapeutics in a research note on Monday, October 7th. They set a “buy” rating and a $20.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zevra Therapeutics presently has an average rating of “Buy” and a consensus target price of $21.00.

Zevra Therapeutics Price Performance

NASDAQ ZVRA traded down $0.04 during trading hours on Thursday, reaching $8.62. The company’s stock had a trading volume of 215,095 shares, compared to its average volume of 541,321. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market cap of $453.58 million, a PE ratio of -4.38 and a beta of 1.93. The company’s 50-day moving average is $7.97 and its two-hundred day moving average is $6.44. Zevra Therapeutics has a fifty-two week low of $4.18 and a fifty-two week high of $9.09.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.01). The company had revenue of $4.45 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted ($0.15) EPS. Analysts forecast that Zevra Therapeutics will post -1.63 EPS for the current year.

Hedge Funds Weigh In On Zevra Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Zevra Therapeutics by 282,687.5% during the 3rd quarter. FMR LLC now owns 2,313,202 shares of the company’s stock valued at $16,054,000 after buying an additional 2,312,384 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Zevra Therapeutics by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,704,006 shares of the company’s stock worth $9,883,000 after purchasing an additional 58,866 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Zevra Therapeutics in the 3rd quarter worth about $4,858,000. Retirement Planning Co of New England Inc. raised its stake in shares of Zevra Therapeutics by 6.5% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 458,300 shares of the company’s stock valued at $2,246,000 after purchasing an additional 28,107 shares in the last quarter. Finally, Mystic Asset Management Inc. lifted its position 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. 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.