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

Zevra Therapeutics (NASDAQ:ZVRA) had its target price cut 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 price target would suggest a potential upside of 166.82% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Guggenheim began coverage on Zevra Therapeutics in a research report on Monday, October 7th. They issued a “buy” rating and a $20.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Zevra Therapeutics in a research report on Monday, September 30th. JMP Securities initiated coverage on shares of Zevra Therapeutics in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zevra Therapeutics in a report on Friday, October 11th. Finally, William Blair raised Zevra Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zevra Therapeutics presently has a consensus rating of “Buy” and an average price target of $21.00.

Zevra Therapeutics Stock Performance

Shares of NASDAQ ZVRA traded down $0.04 during midday trading on Thursday, hitting $8.62. The company’s stock had a trading volume of 215,095 shares, compared to its average volume of 541,321. The firm has a market cap of $453.58 million, a P/E ratio of -4.38 and a beta of 1.93. Zevra Therapeutics has a 1-year low of $4.18 and a 1-year high of $9.09. The firm’s fifty day moving average price is $7.97 and its 200-day moving average price is $6.44. 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 (NASDAQ:ZVRA) last announced its quarterly earnings results 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 company had revenue of $4.45 million for the quarter, compared to analyst estimates 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 previous year, the company posted ($0.15) earnings per share. On average, sell-side analysts forecast that Zevra Therapeutics will post -1.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Zevra Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings 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 purchased a new stake in shares of Zevra Therapeutics during the first quarter valued at $64,000. The Manufacturers Life Insurance Company boosted its position in shares of 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 purchasing an additional 2,452 shares during the period. Hunter Associates Investment Management LLC purchased a new position in Zevra Therapeutics in the 3rd quarter worth about $92,000. Finally, Intech Investment Management LLC purchased a new position in Zevra Therapeutics in the 3rd quarter worth about $95,000. 35.03% of the stock is currently owned by institutional investors.

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.