Citizens Jmp Forecasts Strong Price Appreciation for Zevra Therapeutics (NASDAQ:ZVRA) Stock

Key Points

• Citizens Jmp raised Zevra Therapeutics’ price target to $28 from $25 while maintaining a “market outperform” rating, implying approximately 166% upside from the previous close.
• Analyst sentiment is broadly positive: nine analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and average price target of $27.29.
• Zevra beat quarterly expectations, reporting earnings of $0.25 per share versus $0.11 expected and revenue of $39.66 million versus $33.88 million forecast. Institutional investors own approximately 35% of the company.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) had its price objective boosted by research analysts at Citizens Jmp from $25.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 165.91% from the stock's previous close.

Other equities analysts have also issued reports about the company. Maxim Group increased their price objective on Zevra Therapeutics from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Wall Street Zen raised Zevra Therapeutics from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Weiss Ratings downgraded shares of Zevra Therapeutics from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 22nd. Canaccord Genuity Group reduced their target price on shares of Zevra Therapeutics from $29.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, July 27th. Finally, Cantor Fitzgerald upped their price target on shares of Zevra Therapeutics from $24.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $27.29.

Zevra Therapeutics Stock Up 0.1%

ZVRA stock opened at $10.53 on Thursday. The firm has a market cap of $622.48 million, a PE ratio of 5.29 and a beta of 0.91. The business has a 50 day moving average of $12.31 and a 200-day moving average of $10.55. Zevra Therapeutics has a 12-month low of $7.16 and a 12-month high of $15.03.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.14. The business had revenue of $39.66 million for the quarter, compared to analysts' expectations of $33.88 million. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%. On average, research analysts expect that Zevra Therapeutics will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Zevra Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. raised its holdings in shares of Zevra Therapeutics by 15.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company's stock valued at $36,720,000 after acquiring an additional 550,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Zevra Therapeutics by 4.4% during the third quarter. Vanguard Group Inc. now owns 3,083,362 shares of the company's stock worth $29,323,000 after purchasing an additional 130,676 shares in the last quarter. Nantahala Capital Management LLC increased its position in shares of Zevra Therapeutics by 34.0% in the third quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company's stock worth $18,753,000 after purchasing an additional 500,000 shares during the last quarter. Rubric Capital Management LP raised its stake in Zevra Therapeutics by 60.8% in the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company's stock valued at $17,253,000 after purchasing an additional 740,584 shares in the last quarter. Finally, State Street Corp lifted its position in Zevra Therapeutics by 3.9% during the fourth quarter. State Street Corp now owns 1,482,956 shares of the company's stock valued at $13,287,000 after purchasing an additional 55,665 shares during the last quarter. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

Zevra Therapeutics Company Profile

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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