Zevra Therapeutics price target lowered to $18 from $19 at Citizens JMP

Citizens JMP analyst Jason Butler lowered the firm’s price target on Zevra Therapeutics (ZVRA) to $18 from $19 and keeps an Outperform rating on the shares. The MIPLYFFA launch continues to outpace expectations, with Q2 U.S. sales of $21.5M, exceeding expectations, with management noting that there have been 129 total patient enrollment forms received to date, up 7 from 122 at the end of March, the analyst tells investors in a research note. Zevra is well-funded to achieve positive cash flow, the firm adds.