Zevra Therapeutics (ZVRA)
NASDAQ:ZVRA
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Zevra Therapeutics
(NASDAQ:ZVRA)
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Rating:71Outperform
Price Target:
$12.50
▲(17.15% Upside)
Action:Reiterated
Date:05/10/26
The score is driven primarily by improved financial positioning (deleveraging and higher revenue scale) and constructive technical momentum. It is tempered by questions around earnings quality and cash-flow backing (negative operating profit and low cash conversion), plus earnings-call risks tied to one-time-driven profitability and execution/timeline variability.
Positive Factors
Commercial Traction (MIPLYFFA)
Sustained prescription enrollment and early launch penetration indicate durable demand for an orphan therapy. Guideline inclusion and steady specialty-channel sales support repeatable revenue streams for rare-disease patients, reducing launch risk and strengthening long-term commercial scalability.
Negative Factors
Earnings Quality / Cash Conversion
Reported net income is materially influenced by a one-time asset sale, while operating cash flow remains small relative to earnings. This gap signals earnings are not yet firmly cash-backed, increasing the risk that headline profitability may not persist absent sustained operating cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial Traction (MIPLYFFA)
Sustained prescription enrollment and early launch penetration indicate durable demand for an orphan therapy. Guideline inclusion and steady specialty-channel sales support repeatable revenue streams for rare-disease patients, reducing launch risk and strengthening long-term commercial scalability.
Read all positive factors
Zevra Therapeutics (ZVRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$620.12M
Dividend YieldN/A
Average Volume (3M)2.44M
Price to Earnings (P/E)3.6
Beta (1Y)0.74
Revenue Growth201.29%
EPS GrowthN/A
CountryUS
Employees59
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)2.06
Shares Outstanding59,115,086
10 Day Avg. Volume2,552,948
30 Day Avg. Volume2,436,184
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)3.20
Price to Sales (P/S)4.65
P/FCF Ratio-203.69
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue4.08
Enterprise Value/Gross Profit4.75
Enterprise Value/Ebitda4.69
Forecast
1Y Price Target
$24.00Price Target Upside124.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.49
Revenue Forecast (FY)$143.28M
Zevra Therapeutics Business Overview & Revenue Model
Company Description
Zevra Therapeutics, Inc., a rare disease company melding science, discovers and develops various proprietary prodrugs to treat serious medical conditions in the United States. The company utilizes its Ligand Activated Therapy technology to generat...
How the Company Makes Money
Zevra’s primary source of revenue is product sales from its marketed therapy for Niemann-Pick disease type C (NPC). It generates revenue by selling the product through specialty distribution channels to healthcare providers and patients, with net ...
Zevra Therapeutics Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Positive
The call conveyed strong progress on multiple fronts: very robust revenue growth (+78% YoY), positive reported net income driven by a strategic asset sale, a clean balance sheet with no debt and meaningful commercial validation for MIPLYFFA (170 enrollments, guideline inclusion, broad clinical dataset). At the same time, management flagged a number of operational and execution items to monitor — elevated operating expenses, a sizeable tax provision, reliance on a one-time sale for headline profitability, variability in EAP and international orders, modest quarter-over-quarter prescription momentum (9 new enrollment forms in Q1), and slow event accrual in the Celiprolol trial. Overall, the positives around commercial traction, cash position and strategic portfolio actions outweigh the transitory and execution-related headwinds, but the underlying operating performance and trial timelines warrant continued attention.Positive Updates
Strong Revenue Growth
Total net revenue of $36.2M in Q1 2026, a 78% increase versus $20.4M in Q1 2025 (incremental $15.8M). Composition: $24.6M MIPLYFFA U.S. net sales, $10.2M net reimbursements from the global EAP (Arimoclomol), $1.1M royalty revenue and $0.3M from OLPRUVA.
Negative Updates
Underlying Operating Performance Moderation
Operating expenses of $25.2M in Q1 2026, up $2.4M (≈10.5%) versus Q1 2025. R&D expense rose to $4.4M (+$1.1M, +33.3%) and SG&A was $20.8M (+$1.2M, +6.1%), reflecting higher third-party and professional fees.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Total net revenue of $36.2M in Q1 2026, a 78% increase versus $20.4M in Q1 2025 (incremental $15.8M). Composition: $24.6M MIPLYFFA U.S. net sales, $10.2M net reimbursements from the global EAP (Arimoclomol), $1.1M royalty revenue and $0.3M from OLPRUVA.
Read all positive updates
Company Guidance
Management reiterated clear near‑term milestones and outlook with many quantifiable metrics: Q1 2026 net revenue was $36.2M (up 78% vs. $20.4M in Q1 2025), comprised of $24.6M U.S. MIPLYFFA sales, $0.3M OLPRUVA, $10.2M EAP reimbursements and $1.1M royalties; total MIPLYFFA prescription enrollment forms reached 170 (9 in Q1) and global EAP enrollment was 122; MIPLYFFA holds U.S. orphan exclusivity through 2031 with a patent‑term extension pending and is included in NPC clinical practice guidelines. Guidance items: channel inventory shortfall (one fewer shipment in Q1) is expected to normalize by end of Q2, the EMA MAA review is progressing (responses to the 120‑day list submitted), and a follow‑up FDA Type C meeting is planned in H2 to explore acceleration options for Celiprolol (DiSCOVER: 62 patients enrolled, 10 in Q1; 2 of 28 events accrued). Financially, the SDX portfolio sale closed for $50M (net $45M; $40.5M received in Q1, $4.5M in April), a ~$43.3M one‑time gain and ~$10M debt‑extinguishment expense were recorded, debt was retired saving ~ $8M/year in interest, ending cash, cash equivalents and investments were $236.8M with no outstanding debt; operating expenses were $25.2M (R&D $4.4M; SG&A $20.8M), reported net income was $37.9M ($0.62 basic; $0.60 diluted) and adjusted net income excluding one‑times was ~$11.5M ($0.18 diluted), and coverage of MIPLYFFA stands at 69% of covered lives.Zevra Therapeutics Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
78
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 122.29M | 106.47M | 23.61M | 27.46M | 10.16M | 28.65M |
| Gross Profit | 104.94M | 89.99M | 16.20M | 24.52M | 9.94M | 26.59M |
| EBITDA | 106.21M | 98.71M | -76.40M | -43.54M | -25.53M | -7.89M |
| Net Income | 124.22M | 83.23M | -105.51M | -46.05M | -26.77M | -8.55M |
Balance Sheet | ||||||
| Total Assets | 278.58M | 284.73M | 178.13M | 172.33M | 115.34M | 132.94M |
| Cash, Cash Equivalents and Short-Term Investments | 95.59M | 191.01M | 69.50M | 67.74M | 82.85M | 112.35M |
| Total Debt | 1.15M | 63.21M | 60.30M | 43.77M | 18.78M | 1.61M |
| Total Liabilities | 72.78M | 130.07M | 138.46M | 110.46M | 40.22M | 5.82M |
| Stockholders Equity | 205.80M | 154.66M | 39.67M | 61.86M | 75.12M | 127.12M |
Cash Flow | ||||||
| Free Cash Flow | 11.99M | -2.43M | -69.67M | -33.83M | -18.81M | 10.34M |
| Operating Cash Flow | 12.77M | -1.60M | -69.67M | -33.53M | -18.72M | 10.44M |
| Investing Cash Flow | 87.20M | 18.13M | -22.16M | -17.39M | -36.72M | -15.52M |
| Financing Cash Flow | -42.35M | 12.06M | 82.11M | 28.46M | 8.35M | 113.11M |
Zevra Therapeutics Technical Analysis
Positive
10.67
Price Trends
10.06
Positive
9.47
Positive
9.41
Positive
Market Momentum
0.16
Positive
50.60
Neutral
13.79
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZVRA, the sentiment is Positive. The current price of 10.67 is above the 20-day moving average (MA) of 10.54, above the 50-day MA of 10.06, and above the 200-day MA of 9.41, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 50.60 is Neutral, neither overbought nor oversold. The STOCH value of 13.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZVRA.
Zevra Therapeutics Risk Analysis
Zevra Therapeutics disclosed 45 risk factors in its most recent earnings report. Zevra Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Zevra Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $620.12M | 3.59 | 81.34% | ― | 201.29% | ― | |
55 Neutral | $990.56M | -149.66 | -18.64% | ― | 123.12% | 86.10% | |
52 Neutral | $1.03B | ― | -38.92% | ― | ― | 17.91% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $492.64M | 3.99 | -49.88% | ― | -57.99% | -37.06% | |
49 Neutral | $639.92M | -3.48 | -74.45% | ― | ― | 34.94% | |
48 Neutral | $460.39M | ― | -9999.00% | ― | -1.26% | -23.97% |
* Healthcare Sector Average
ZVRA
Zevra Therapeutics
10.03
1.38
15.95%
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CRVS
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135.59%
Zevra Therapeutics Corporate Events
Business Operations and StrategyLegal ProceedingsM&A TransactionsPrivate Placements and Financing
Zevra Sells SDX Portfolio and Resolves Litigation
Positive
Mar 16, 2026
On March 13, 2026, Zevra Therapeutics agreed to sell its serdexmethylphenidate (SDX) portfolio, including AZSTARYS and KP1077, to Commave Therapeutics for $50 million while also resolving ongoing litigation in Delaware tied to a 2019 collaboration...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Zevra Therapeutics Appoints Justin Renz as New CFO
Positive
Mar 9, 2026
On March 4, 2026, Zevra appointed industry veteran Justin Renz as Chief Financial Officer and Treasurer, effective March 9, 2026, and principal financial officer, effective March 10, 2026, with an employment package that includes a $520,000 base s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.