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

Zevra Therapeutics (NASDAQ:ZVRA) had its price target decreased by Canaccord Genuity Group from $25.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 166.82% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Guggenheim started coverage on Zevra Therapeutics in a research note on Monday, October 7th. They set a “buy” rating and a $20.00 target price on the stock. Maxim Group boosted their target price on shares of 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 reissued an “overweight” rating on shares of Zevra Therapeutics in a research report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Zevra Therapeutics in a report on Monday, September 30th. Finally, Roth Mkm increased their price objective on Zevra Therapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $21.00.

Zevra Therapeutics Price Performance

Zevra Therapeutics stock opened at $8.62 on Thursday. Zevra Therapeutics has a 52 week low of $4.18 and a 52 week high of $9.21. The company’s 50 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 P/E ratio of -4.38 and a beta of 1.93. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.80.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). The business 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 last year, the business posted ($0.15) earnings per share. On average, equities analysts predict that Zevra Therapeutics will post -1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZVRA. International Assets Investment Management LLC grew its position in shares of Zevra Therapeutics by 594.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock valued at $48,000 after purchasing an additional 5,940 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Zevra Therapeutics in the 1st quarter valued at about $64,000. The Manufacturers Life Insurance Company boosted its position in shares of Zevra Therapeutics by 15.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock valued at $91,000 after acquiring an additional 2,452 shares during the last quarter. Hunter Associates Investment Management LLC bought a new stake in Zevra Therapeutics during the third quarter valued at approximately $92,000. Finally, XTX Topco Ltd purchased a new position in Zevra Therapeutics in the 3rd quarter worth approximately $94,000. 35.03% of the stock is owned by institutional investors.

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.