JMP Securities Issues Pessimistic Forecast for Zevra Therapeutics (NASDAQ:ZVRA) Stock Price

Key Points

• JMP Securities has lowered its price target for Zevra Therapeutics (NASDAQ:ZVRA) from $19.00 to $18.00, while maintaining a "market outperform" rating, indicating a potential upside of 98.87% from the current price.
• Despite the downgrade, Zevra Therapeutics has received multiple positive ratings from other analysts, with a consensus rating of "Buy" and an average price target of $23.71.
• The company's latest quarterly earnings report showed a revenue of $20.40 million, exceeding analyst estimates, and an EPS improvement compared to the previous year.

Zevra Therapeutics (NASDAQ:ZVRA - Free Report) had its price objective decreased by JMP Securities from $19.00 to $18.00 in a research note published on Wednesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

ZVRA has been the topic of a number of other research reports. Citigroup reiterated an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday. HC Wainwright assumed coverage on shares of Zevra Therapeutics in a report on Wednesday, July 2nd. They set a "buy" rating and a $26.00 target price for the company. Wall Street Zen cut shares of Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Finally, Cantor Fitzgerald raised their target price on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zevra Therapeutics has an average rating of "Buy" and a consensus target price of $23.71.

Zevra Therapeutics Stock Performance

Shares of NASDAQ ZVRA traded up $0.53 during mid-day trading on Wednesday, reaching $9.43. 2,797,692 shares of the company traded hands, compared to its average volume of 1,477,849. Zevra Therapeutics has a fifty-two week low of $6.19 and a fifty-two week high of $13.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.85 and a quick ratio of 7.81. The stock has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $8.77.

Institutional Investors Weigh In On Zevra Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position in Zevra Therapeutics by 30.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,541 shares of the company's stock worth $49,000 after buying an additional 1,280 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Zevra Therapeutics in the 4th quarter worth approximately $53,000. GAMMA Investing LLC lifted its position in Zevra Therapeutics by 20,564.1% in the 1st quarter. GAMMA Investing LLC now owns 8,059 shares of the company's stock worth $60,000 after buying an additional 8,020 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Zevra Therapeutics by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock worth $88,000 after buying an additional 8,552 shares in the last quarter. Finally, Creative Planning purchased a new stake in Zevra Therapeutics in the 2nd quarter worth approximately $92,000. 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.