Canaccord Genuity Group Boosts Zevra Therapeutics (NASDAQ:ZVRA) Price Target to $25.00

Zevra Therapeutics (NASDAQ:ZVRA) had its target price hoisted by Canaccord Genuity Group from $23.00 to $25.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently commented on ZVRA. Citigroup restated an “outperform” rating on shares of Zevra Therapeutics in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Zevra Therapeutics in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Zevra Therapeutics in a report on Thursday. Finally, Guggenheim lifted their target price on Zevra Therapeutics from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. Eight 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, Zevra Therapeutics currently has an average rating of “Buy” and an average price target of $22.14.

Zevra Therapeutics Trading Up 4.7 %

ZVRA opened at $8.31 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.88 and a current ratio of 2.88. The business’s 50 day moving average price is $7.93 and its 200 day moving average price is $8.16. Zevra Therapeutics has a one year low of $4.20 and a one year high of $9.76. The stock has a market capitalization of $449.70 million, a PE ratio of -4.22 and a beta of 1.98.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.28). Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. The firm had revenue of $12.00 million for the quarter, compared to analyst estimates of $8.93 million. As a group, equities research analysts expect that Zevra Therapeutics will post -1.95 EPS for the current year.

Insider Buying and Selling at Zevra Therapeutics

In other news, EVP Joshua Schafer sold 10,500 shares of Zevra Therapeutics stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.86, for a total transaction of $82,530.00. Following the sale, the executive vice president now owns 29,486 shares in the company, valued at approximately $231,759.96. The trade was a 26.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO R. Laduane Clifton sold 11,000 shares of Zevra Therapeutics stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.86, for a total value of $86,460.00. Following the sale, the chief financial officer now owns 51,361 shares in the company, valued at $403,697.46. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,773 shares of company stock worth $674,176 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Zevra Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Woodline Partners LP increased its position in shares of Zevra Therapeutics by 2.2% during the fourth quarter. Woodline Partners LP now owns 4,139,593 shares of the company’s stock worth $34,524,000 after purchasing an additional 90,940 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in Zevra Therapeutics by 462.4% in the 4th 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 acquiring an additional 3,001,000 shares during the period. Vanguard Group Inc. increased its position in Zevra Therapeutics by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company’s stock valued at $23,554,000 after acquiring an additional 68,151 shares during the period. FMR LLC increased its position in Zevra Therapeutics by 282,687.5% in the 3rd quarter. FMR LLC now owns 2,313,202 shares of the company’s stock valued at $16,054,000 after acquiring an additional 2,312,384 shares during the period. Finally, Altium Capital Management LLC increased 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 valued at $15,429,000 after acquiring an additional 150,000 shares during the period. Institutional investors and hedge funds 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.