BTIG Research Cuts Zevra Therapeutics (NASDAQ:ZVRA) Price Target to $24.00

Key Points

• BTIG Research lowered Zevra Therapeutics’ price target to $24 from $27 but maintained a “buy” rating, implying potential upside of 152.1% from the prior close.
• Analyst sentiment remains favorable, with nine Buy ratings and two Holds; the consensus rating is “Moderate Buy” and the average price target is $28.86.
• Zevra beat quarterly expectations, reporting $0.18 in EPS versus a $0.06 estimate and $36.22 million in revenue versus $31.96 million expected. Its pipeline includes treatments for idiopathic hypersomnia, narcolepsy, and vascular Ehlers-Danlos syndrome.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) had its price target lowered by equities research analysts at BTIG Research from $27.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price objective points to a potential upside of 152.10% from the stock's previous close.

ZVRA has been the subject of a number of other reports. Canaccord Genuity Group raised their target price on Zevra Therapeutics from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Citizens Jmp boosted their price target on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a "market outperform" rating in a research report on Tuesday, June 9th. Cantor Fitzgerald upped their price objective on shares of Zevra Therapeutics from $24.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, June 8th. HC Wainwright restated a "buy" rating and set a $26.00 price objective on shares of Zevra Therapeutics in a research report on Tuesday, June 23rd. Finally, Maxim Group lifted their target price on shares of Zevra Therapeutics from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.86.

Zevra Therapeutics Price Performance

Shares of Zevra Therapeutics stock opened at $9.52 on Monday. The stock's 50 day simple moving average is $12.37 and its 200-day simple moving average is $10.48. The stock has a market cap of $562.82 million, a P/E ratio of 4.78 and a beta of 0.85. Zevra Therapeutics has a 1-year low of $7.16 and a 1-year high of $15.03.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.06 by $0.12. The firm had revenue of $36.22 million during the quarter, compared to analysts' expectations of $31.96 million. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%. As a group, research analysts expect that Zevra Therapeutics will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Zevra Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Zevra Therapeutics during the 4th quarter worth $53,000. Russell Investments Group Ltd. lifted its position in Zevra Therapeutics by 235.7% in the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company's stock valued at $61,000 after buying an additional 4,475 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock valued at $88,000 after buying an additional 8,552 shares during the last quarter. Creative Planning purchased a new position in Zevra Therapeutics during the second quarter worth about $92,000. Finally, Quarry LP purchased a new position in Zevra Therapeutics during the third quarter worth about $103,000. Hedge funds and other institutional investors own 35.03% of the company's stock.

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. The company is also developing Celiprolol, a prodrug product candidate that is under Phase 1/2 clinical trial for the treatment of vascular Ehlers Danlos syndrome.

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