Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Target Lowered at BTIG Research

Zevra Therapeutics (NASDAQ:ZVRA) had its price objective trimmed by BTIG Research from $24.00 to $21.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. Guggenheim lowered their target price on Zevra Therapeutics from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Zevra Therapeutics in a research report on Wednesday, August 19th. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Zevra Therapeutics in a report on Thursday, August 20th. UBS Group restated a “buy” rating on shares of Zevra Therapeutics in a research note on Thursday, August 20th. Finally, Citigroup restated an “outperform” rating on shares of Zevra Therapeutics in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $24.57.

Zevra Therapeutics Stock Performance

Shares of ZVRA opened at $9.08 on Friday. Zevra Therapeutics has a 52 week low of $8.01 and a 52 week high of $15.03. The company has a 50-day simple moving average of $10.99 and a 200-day simple moving average of $10.83. The firm has a market capitalization of $540.35 million, a P/E ratio of 7.63 and a beta of 1.01.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.16 by $0.10. The business had revenue of $37.76 million for the quarter, compared to analysts’ expectations of $37.08 million. Zevra Therapeutics had a net margin of 52.80% and a return on equity of 54.64%. As a group, equities analysts forecast that Zevra Therapeutics will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Zevra Therapeutics

In other Zevra Therapeutics news, CEO Neil McFarlane sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $11.25, for a total value of $225,000.00. Following the sale, the chief executive officer owned 417,225 shares of the company’s stock, valued at $4,693,781.25. The trade was a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zevra Therapeutics

A number of large investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in Zevra Therapeutics in the 2nd quarter valued at about $28,000. Fulcrum Asset Management LLP bought a new position in shares of Zevra Therapeutics in the third quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Zevra Therapeutics during the third quarter valued at approximately $33,000. State of Alaska Department of Revenue purchased a new stake in Zevra Therapeutics in the 3rd quarter worth about $44,000. Finally, State of Wyoming bought a new stake in Zevra Therapeutics in the third quarter worth approximately $81,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Zevra Therapeutics News Summary

Here’s some of the latest news about ZVRA:

• Positive Sentiment: BTIG Research maintained a Buy rating, with a reduced price target of $21 from $24. BTIG Research ratings
• Positive Sentiment: Cantor Fitzgerald kept its Overweight rating while cutting its target to $19 from $25. Both firms’ revised targets remain well above the cited $9.08 share price, though the reductions temper their outlook. Cantor Fitzgerald ratings
• Negative Sentiment: The European Medicines Agency’s CHMP issued a negative opinion on Zevra’s marketing application for arimoclomol to treat Niemann-Pick disease type C. The European Commission will make the final decision, but the opinion raises the risk that the drug will not receive EU authorization, potentially limiting its commercial opportunity in Europe. Zevra’s CHMP opinion announcement

Zevra Therapeutics Company Profile

Zevra Therapeutics, Inc. is a U.S.-based biopharmaceutical company focused on developing and commercializing treatments for rare diseases. Its work includes research and development as well as bringing therapies to patients with limited treatment options. The company’s products include MIPLYFFA (arimoclomol), approved in the United States for neurological manifestations of Niemann-Pick disease type C, and OLPRUVA (sodium phenylbutyrate), a treatment for certain urea cycle disorders. Zevra also advances investigational therapies for rare and complex conditions.