In a report released yesterday, Sumant Kulkarni from Canaccord Genuity maintained a Buy rating on Zevra Therapeutics (ZVRA – Research Report), with a price target of $25.00.
Sumant Kulkarni has given his Buy rating due to a combination of factors that highlight Zevra Therapeutics’ promising outlook. The company’s recent performance, particularly with the launch of Miplyffa for Niemann-Pick Type C, has been encouraging, with sales surpassing expectations and prescription numbers increasing. This positive trend is a key driver for the stock in the near to mid-term. Additionally, Zevra’s strategic focus on rare diseases is seen as undervalued by the market, providing a potential for significant upside.
Moreover, the company’s financial position is strong, with a solid cash runway extending into 2029, excluding the proceeds from the sale of a pediatric priority review voucher. This sale has also contributed to an increase in the price target from $23 to $25. The analyst maintains conservative estimates for other products like Olpruva, but the overall strategy and financial health of the company support the Buy rating, indicating confidence in its future growth potential.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.