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On Monday, JMP Securities analyst Jason Butler increased the price target for Zevra Therapeutics, Inc. (NASDAQ: ZVRA) to $18.00, up from the previous target of $17.00. Currently trading at $8.07, with a market capitalization of $431 million, the stock has shown significant volatility over the past year. The firm continues to hold a Market Outperform rating on the stock. This adjustment follows Zevra’s announcement of its fourth-quarter financial results for 2024, where the company reported revenues that surpassed JMP Securities’ estimates and the consensus, primarily due to strong U.S. sales of its product MIPLYFFA. According to InvestingPro, the company’s overall financial health score is rated as "FAIR," with particularly strong momentum metrics.
Zevra’s recent business update, which accompanied the financial results, showcased sustained growth in the MIPLYFFA launch, with the company achieving a notable 47.85% revenue growth in the last twelve months. The company’s update was particularly positive regarding the progress with its Expanded Access Program (EAP) patients, noting that all active EAP patients have finished the prescription enrollment process. JMP Securities anticipates Zevra will start receiving payments for the commercial product in the first quarter of 2025.
The financial standing of Zevra at the end of 2024 was also noted, with the company reporting $75.5 million in cash reserves. Zevra has provided guidance suggesting that it has enough cash to continue operations into 2029. Additionally, the company mentioned that the sale of its priority review voucher could potentially offer further financial upside.
The positive outlook from JMP Securities reflects the company’s strong performance and promising future prospects as indicated by its recent financial results and business developments. The revised price target of $18 suggests confidence in Zevra Therapeutics’ continued growth trajectory and its ability to generate revenue from its commercial products.
In other recent news, Zevra Therapeutics Inc. reported a net loss of $35.7 million for the fourth quarter of 2024, translating to a loss of $0.67 per share, which fell short of analyst expectations of a $0.40 loss per share. Despite the wider losses, Zevra’s revenue for the quarter was $12 million, exceeding the forecasted $8.52 million, driven by the strong performance of MyPlifa. The company aims to extend its cash runway into 2029, bolstered by anticipated capital from a priority review voucher sale. Zevra is also focusing on expanding its presence in the European market with plans to submit a Marketing Authorization Application in the second half of 2025. Analysts from firms like Cantor and Citizens JMP have noted the significant developments in the company’s strategic initiatives. Additionally, the company has been refining its strategy for its product Opruva, targeting specific patient segments to improve market access. These developments reflect Zevra’s ongoing efforts to navigate financial challenges while expanding its market reach.
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