In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Zevra Therapeutics, with a price target of $25.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Zevra Therapeutics’ potential for growth and financial stability. The company’s focus on the successful launch of Miplyffa, a treatment for Niemann-Pick disease type C, is a significant driver in this assessment. Despite being in the early stages of its commercial journey, Miplyffa has shown promising progress with increasing patient enrollments and expanding payor coverage, which bodes well for future revenue growth.
Additionally, Zevra’s decision to scale back on Olpruva commercialization is viewed as a strategic move, allowing the company to concentrate resources on more promising ventures. With a strong balance sheet boasting $230 million in cash, Zevra is well-positioned to navigate its strategic options and potential expansions, such as the MAA filing with the EMA for Miplyffa, which could open up new markets. These factors, combined with the company’s prudent management decisions, underpin McCarthy’s positive outlook and Buy rating for Zevra Therapeutics.
McCarthy covers the Healthcare sector, focusing on stocks such as SCYNEXIS, Neuphoria Therapeutics, and OS Therapies Incorporated. According to TipRanks, McCarthy has an average return of -14.4% and a 33.20% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $26.00 price target.