Zevra Therapeutics (NASDAQ:ZVRA) Price Target Lowered to $23.00 at Guggenheim

Key Points

• Guggenheim lowered Zevra Therapeutics’ price target to $23 from $24 while maintaining a “buy” rating, implying roughly 101% upside from the stock’s $11.44 price. Analysts overall hold a “Moderate Buy” consensus with an average target of $27.14.
• Zevra reported quarterly EPS of $0.25, beating estimates of $0.11, while revenue of $39.66 million exceeded the $33.88 million consensus forecast.
• The stock has a market capitalization of approximately $676 million, and institutional investors own 35.03% of shares. Zevra is developing treatments including KP1077 for idiopathic hypersomnia and narcolepsy, as well as celiprolol for vascular Ehlers-Danlos syndrome.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) had its price objective lowered by equities research analysts at Guggenheim from $24.00 to $23.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's target price would indicate a potential upside of 101.14% from the company's current price.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reiterated a "buy" rating and issued a $26.00 price objective on shares of Zevra Therapeutics in a research note on Tuesday, June 23rd. Weiss Ratings downgraded Zevra Therapeutics from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, May 22nd. Canaccord Genuity Group dropped their price target on Zevra Therapeutics from $29.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, July 27th. 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. Finally, Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research note on Thursday. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Zevra Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.14.

Zevra Therapeutics Stock Performance

ZVRA traded down $0.45 during mid-day trading on Friday, reaching $11.44. 490,420 shares of the stock were exchanged, compared to its average volume of 1,363,010. Zevra Therapeutics has a 1 year low of $7.16 and a 1 year high of $15.03. The stock has a market capitalization of $676.04 million, a PE ratio of 12.39 and a beta of 0.91. The company has a 50 day moving average price of $12.32 and a two-hundred day moving average price of $10.57.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.11 by $0.14. Zevra Therapeutics had a net margin of 42.82% and a return on equity of 58.95%. The company had revenue of $39.66 million during the quarter, compared to the consensus estimate of $33.88 million. Sell-side analysts expect that Zevra Therapeutics will post 0.56 EPS for the current fiscal year.

Institutional Trading of Zevra Therapeutics

Large investors have recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Zevra Therapeutics during the 4th quarter worth $53,000. Russell Investments Group Ltd. boosted its position in Zevra Therapeutics by 235.7% during the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company's stock worth $61,000 after purchasing an additional 4,475 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock worth $88,000 after purchasing an additional 8,552 shares in the last quarter. Creative Planning purchased a new position in shares of Zevra Therapeutics in the second quarter worth about $92,000. Finally, Quarry LP bought a new stake in shares of Zevra Therapeutics in the third quarter valued at approximately $103,000. 35.03% of the stock is 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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