Zevra Therapeutics (NASDAQ:ZVRA) Price Target Cut to $21.00 by Analysts at BTIG Research

Key Points

• BTIG Research cut its price target on Zevra Therapeutics from $24 to $21 but maintained a Buy rating; the new target implies 124.65% upside from the prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports an average Buy rating and a $24.57 average price target across 11 analysts.
• Zevra shares fell 16.2% Friday to $9.35. The company’s latest quarterly results beat estimates, reporting EPS of $0.26 versus $0.16 expected and revenue of $37.76 million versus $37.08 million forecast.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) had its price target reduced by research analysts at BTIG Research from $24.00 to $21.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's target price would indicate a potential upside of 124.65% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald decreased their target price on Zevra Therapeutics from $25.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday. Citizens Jmp boosted their price target on shares of Zevra Therapeutics from $25.00 to $28.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 6th. Guggenheim reduced their price target on shares of Zevra Therapeutics from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. William Blair raised shares of Zevra Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 23rd. Finally, Citigroup reissued an "outperform" rating on shares of Zevra Therapeutics in a research note 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $24.57.

Zevra Therapeutics Trading Down 16.2%

Zevra Therapeutics stock traded down $1.81 during trading on Friday, hitting $9.35. The company had a trading volume of 1,866,404 shares, compared to its average volume of 1,225,129. Zevra Therapeutics has a 1-year low of $8.01 and a 1-year high of $15.03. The company's 50 day simple moving average is $11.06 and its 200-day simple moving average is $10.83. The stock has a market cap of $556.30 million, a price-to-earnings ratio of 7.86 and a beta of 1.01.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.10. Zevra Therapeutics had a return on equity of 54.64% and a net margin of 52.80%. The company had revenue of $37.76 million for the quarter, compared to analyst estimates of $37.08 million. As a group, analysts forecast that Zevra Therapeutics will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Neil McFarlane sold 20,000 shares of Zevra Therapeutics stock in a transaction on Monday, October 12th. The shares were sold at an average price of $11.25, for a total transaction of $225,000.00. Following the completion of the sale, the chief executive officer directly owned 417,225 shares of the company's stock, valued at approximately $4,693,781.25. The trade was a 4.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.70% of the company's stock.

Institutional Trading of Zevra Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ZVRA. First Trust Advisors LP lifted its stake in Zevra Therapeutics by 16.9% during the third quarter. First Trust Advisors LP now owns 12,266 shares of the company's stock worth $135,000 after purchasing an additional 1,771 shares during the last quarter. Royce & Associates LP increased its stake in Zevra Therapeutics by 3.0% in the third quarter. Royce & Associates LP now owns 909,137 shares of the company's stock valued at $9,973,000 after purchasing an additional 26,479 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in Zevra Therapeutics in the third quarter valued at approximately $31,000. Alps Advisors Inc. acquired a new stake in Zevra Therapeutics during the third quarter worth approximately $528,000. Finally, Integrity Alliance LLC. acquired a new stake in Zevra Therapeutics during the third quarter worth approximately $10,292,000. 35.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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