Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Target Lowered at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut its price target on Zevra Therapeutics from $25 to $19 but maintained an “overweight” rating; the revised target implies about 102% upside from the prior close.
• Zevra shares fell 15.8% to $9.40 in Friday trading.
• The company beat quarterly estimates, reporting EPS of $0.26 versus $0.16 expected and revenue of $37.76 million versus $37.08 million. Analysts’ average rating remains “Buy,” with a $25 average price target.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) had its price target cut by research analysts at Cantor Fitzgerald from $25.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 102.11% from the company's previous close.

Other equities analysts also recently issued reports about the stock. HC Wainwright reaffirmed a "buy" rating and issued a $26.00 price target on shares of Zevra Therapeutics in a research note on Thursday, August 20th. Citizens Jmp boosted their price objective on Zevra Therapeutics from $25.00 to $28.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 6th. Citigroup reissued an "outperform" rating on shares of Zevra Therapeutics in a research report on Thursday, August 6th. William Blair upgraded Zevra Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 23rd. Finally, BTIG Research cut their price objective on Zevra Therapeutics from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $25.00.

Zevra Therapeutics Trading Down 15.8%

Shares of NASDAQ ZVRA traded down $1.76 during midday trading on Friday, reaching $9.40. The company's stock had a trading volume of 1,734,649 shares, compared to its average volume of 1,224,696. The company has a 50 day moving average price of $11.06 and a 200 day moving average price of $10.83. The company has a market cap of $559.45 million, a price-to-earnings ratio of 7.95 and a beta of 1.01. Zevra Therapeutics has a one year low of $8.01 and a one year high of $15.03.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share 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 business had revenue of $37.76 million during the quarter, compared to analyst estimates of $37.08 million. Research analysts anticipate that Zevra Therapeutics will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zevra Therapeutics news, CEO Neil McFarlane sold 20,000 shares of the company'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 transaction of $225,000.00. Following the completion of the transaction, the chief executive officer owned 417,225 shares of the company's stock, valued at $4,693,781.25. This represents a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Zevra Therapeutics

Institutional investors have recently made changes to their positions in the stock. Integrity Alliance LLC. bought a new position in shares of Zevra Therapeutics in the 3rd quarter worth about $10,292,000. Royce & Associates LP grew its stake in Zevra Therapeutics by 3.0% during the third quarter. Royce & Associates LP now owns 909,137 shares of the company's stock worth $9,973,000 after purchasing an additional 26,479 shares during the period. Dimensional Fund Advisors LP grew its stake in Zevra Therapeutics by 259.2% during the first quarter. Dimensional Fund Advisors LP now owns 554,802 shares of the company's stock worth $5,168,000 after purchasing an additional 400,336 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Zevra Therapeutics by 116.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 383,706 shares of the company's stock worth $5,502,000 after purchasing an additional 206,543 shares in the last quarter. Finally, Mystic Asset Management Inc. increased its holdings in Zevra Therapeutics by 0.9% in the third quarter. Mystic Asset Management Inc. now owns 355,380 shares of the company's stock worth $3,899,000 after purchasing an additional 3,270 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors.

About Zevra Therapeutics

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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