Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Target Lowered at Cantor Fitzgerald

Zevra Therapeutics (NASDAQ:ZVRA) had its target price trimmed by Cantor Fitzgerald from $25.00 to $19.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also weighed in on ZVRA. BTIG Research cut their price objective on Zevra Therapeutics from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Guggenheim reduced their price objective on shares of Zevra Therapeutics from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 19th. Canaccord Genuity Group cut their price target on shares of Zevra Therapeutics from $29.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Finally, William Blair raised shares of Zevra Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Zevra Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $24.57.

Zevra Therapeutics Price Performance

NASDAQ ZVRA opened at $9.08 on Friday. The stock has a market capitalization of $540.35 million, a P/E ratio of 7.63 and a beta of 1.01. The business has a 50 day simple moving average of $10.99 and a 200 day simple moving average of $10.83. Zevra Therapeutics has a one year low of $8.01 and a one year high of $15.03.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.10. The business had revenue of $37.76 million for the quarter, compared to analysts’ expectations of $37.08 million. Zevra Therapeutics had a net margin of 52.80% and a return on equity of 54.64%. Equities analysts expect that Zevra Therapeutics will post 0.88 earnings per share for the current year.

Insider Activity at Zevra Therapeutics

In other news, CEO Neil McFarlane sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $11.25, for a total value of $225,000.00. Following the sale, the chief executive officer directly owned 417,225 shares in the company, valued at approximately $4,693,781.25. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.70% of the company’s stock.

Institutional Trading of Zevra Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrity Alliance LLC. purchased a new position in Zevra Therapeutics during the third quarter worth approximately $10,292,000. Dimensional Fund Advisors LP lifted its position in Zevra Therapeutics by 259.2% during the first quarter. Dimensional Fund Advisors LP now owns 554,802 shares of the company’s stock worth $5,168,000 after buying an additional 400,336 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Zevra Therapeutics by 116.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 383,706 shares of the company’s stock valued at $5,502,000 after purchasing an additional 206,543 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Zevra Therapeutics during the 2nd quarter worth approximately $2,846,000. Finally, Globeflex Capital L P purchased a new position in shares of Zevra Therapeutics during the 2nd quarter worth approximately $2,752,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

Key Stories Impacting Zevra Therapeutics

These are some of the ZVRA stories that stood out recently:

• Positive Sentiment: BTIG Research maintained a Buy rating, with a reduced price target of $21 from $24. BTIG Research ratings
• Positive Sentiment: Cantor Fitzgerald kept its Overweight rating while cutting its target to $19 from $25. Both firms’ revised targets remain well above the cited $9.08 share price, though the reductions temper their outlook. Cantor Fitzgerald ratings
• Negative Sentiment: The European Medicines Agency’s CHMP issued a negative opinion on Zevra’s marketing application for arimoclomol to treat Niemann-Pick disease type C. The European Commission will make the final decision, but the opinion raises the risk that the drug will not receive EU authorization, potentially limiting its commercial opportunity in Europe. Zevra’s CHMP opinion announcement

About Zevra Therapeutics

Zevra Therapeutics, Inc. is a U.S.-based biopharmaceutical company focused on developing and commercializing treatments for rare diseases. Its work includes research and development as well as bringing therapies to patients with limited treatment options. The company’s products include MIPLYFFA (arimoclomol), approved in the United States for neurological manifestations of Niemann-Pick disease type C, and OLPRUVA (sodium phenylbutyrate), a treatment for certain urea cycle disorders. Zevra also advances investigational therapies for rare and complex conditions.