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

Zevra Therapeutics (NASDAQ:ZVRA) had its price objective cut by Canaccord Genuity Group from $24.00 to $22.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 174.31% from the stock’s current price.

Several other research firms have also commented on ZVRA. HC Wainwright raised their price objective on Zevra Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zevra Therapeutics in a report on Wednesday, August 14th. Finally, William Blair upgraded Zevra Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $20.75.

Zevra Therapeutics Trading Up 2.4 %

NASDAQ ZVRA opened at $8.02 on Wednesday. The company has a market cap of $335.66 million, a P/E ratio of -5.94 and a beta of 1.94. Zevra Therapeutics has a 12 month low of $3.89 and a 12 month high of $8.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 2.00. The company has a 50-day moving average of $7.00 and a 200-day moving average of $5.70.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its 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 firm had revenue of $4.45 million during the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.15) EPS. As a group, equities analysts predict that Zevra Therapeutics will post -1.58 earnings per share for the current year.

Insider Transactions at Zevra Therapeutics

In other Zevra Therapeutics news, Director John B. Bode acquired 10,000 shares of the stock in a transaction on Friday, July 12th. The stock was purchased at an average price of $5.87 per share, for a total transaction of $58,700.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at $176,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have acquired 22,000 shares of company stock valued at $140,340. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Zevra Therapeutics in the 1st quarter valued at about $64,000. The Manufacturers Life Insurance Company raised its stake in Zevra Therapeutics by 15.2% during the second 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. IFG Advisors LLC lifted its holdings in Zevra Therapeutics by 45.0% during the 1st quarter. IFG Advisors LLC now owns 18,700 shares of the company’s stock worth $108,000 after buying an additional 5,800 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in shares of Zevra Therapeutics in the 4th quarter worth approximately $141,000. Finally, Virtu Financial LLC bought a new stake in shares of Zevra Therapeutics in the 4th quarter valued at approximately $177,000. 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.