Zevra Therapeutics (NASDAQ:ZVRA) Releases Quarterly Earnings Results, Misses Estimates By $0.71 EPS

Key Points

• Zevra Therapeutics reported a quarterly EPS of ($0.06), missing the consensus estimate by ($0.71).
• The company's stock traded up $0.06 to hit $11.76, with a market capitalization of $643.04 million.
• Despite the earnings miss, several analysts have given Zevra a buy rating, with a consensus target price of $23.71.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.71), Zacks reports. Zevra Therapeutics had a negative net margin of 226.78% and a negative return on equity of 201.05%.

Zevra Therapeutics Price Performance

Shares of ZVRA traded up $0.06 on Tuesday, hitting $11.76. The company's stock had a trading volume of 1,741,081 shares, compared to its average volume of 654,535. The company has a market capitalization of $643.04 million, a PE ratio of -6.19 and a beta of 1.87. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.02 and a quick ratio of 2.93. Zevra Therapeutics has a fifty-two week low of $6.19 and a fifty-two week high of $13.16. The company has a 50 day moving average price of $10.49 and a 200 day moving average price of $8.71.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZVRA. Strs Ohio acquired a new position in Zevra Therapeutics during the 1st quarter worth $125,000. Creative Planning bought a new stake in shares of Zevra Therapeutics in the 2nd quarter valued at $92,000. Rhumbline Advisers increased its holdings in Zevra Therapeutics by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 83,221 shares of the company's stock worth $733,000 after purchasing an additional 8,636 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Zevra Therapeutics by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company's stock worth $238,000 after purchasing an additional 1,812 shares in the last quarter. Institutional investors and hedge funds own 35.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. HC Wainwright initiated coverage on Zevra Therapeutics in a research report on Wednesday, July 2nd. They set a "buy" rating and a $26.00 price objective for the company. Wall Street Zen lowered Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, May 14th. Finally, Cantor Fitzgerald boosted their price target on Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $23.71.

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.

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