Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Receives $23.71 Average Price Target from Brokerages

Key Points

• Zevra Therapeutics, Inc. (NASDAQ:ZVRA) has received an average recommendation of "Buy" from nine brokerages, with one analyst suggesting a strong buy rating.
• The company's stock has a target price of $23.71 from brokerages, with recent coverage from analysts projecting prices up to $29.00.
• Zevra Therapeutics reported better-than-expected results for the last quarter, with earnings per share of ($0.06) compared to a consensus estimate of ($0.21), and revenue of $20.40 million.

Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) have received a consensus rating of "Buy" from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.7143.

ZVRA has been the subject of a number of analyst reports. HC Wainwright assumed coverage on shares of Zevra Therapeutics in a research note on Wednesday, July 2nd. They set a "buy" rating and a $26.00 target price for the company. Cantor Fitzgerald upped their price target on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen cut Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Citigroup reissued an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday. Finally, JMP Securities reduced their price target on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating for the company in a report on Wednesday.

Zevra Therapeutics Stock Down 23.1%

Zevra Therapeutics stock traded down $2.72 on Friday, hitting $9.04. 3,260,020 shares of the stock traded hands, compared to its average volume of 669,828. Zevra Therapeutics has a 1 year low of $6.19 and a 1 year high of $13.16. The firm has a market cap of $494.20 million, a P/E ratio of -4.76 and a beta of 1.87. The company has a current ratio of 3.02, a quick ratio of 2.93 and a debt-to-equity ratio of 1.46. The business's fifty day simple moving average is $10.54 and its 200 day simple moving average is $8.73.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.15. The company had revenue of $20.40 million during the quarter, compared to analysts' expectations of $16.96 million. Zevra Therapeutics had a negative net margin of 226.78% and a negative return on equity of 201.05%. During the same period last year, the company posted ($0.40) EPS. As a group, sell-side analysts forecast that Zevra Therapeutics will post -1.95 earnings per share for the current year.

Institutional Trading of Zevra Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Woodline Partners LP raised its stake in shares of Zevra Therapeutics by 11.5% in the first quarter. Woodline Partners LP now owns 4,615,625 shares of the company's stock worth $34,571,000 after purchasing an additional 476,032 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Zevra Therapeutics by 462.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company's stock valued at $30,441,000 after buying an additional 3,001,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in Zevra Therapeutics by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company's stock worth $23,554,000 after buying an additional 68,151 shares in the last quarter. Altium Capital Management LLC raised its position in Zevra Therapeutics by 8.8% in the 4th quarter. Altium Capital Management LLC now owns 1,850,000 shares of the company's stock worth $15,429,000 after buying an additional 150,000 shares during the last quarter. Finally, AIGH Capital Management LLC raised its position in Zevra Therapeutics by 82.4% in the 1st quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company's stock worth $10,771,000 after buying an additional 649,495 shares during the last quarter. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

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.