Zevra Therapeutics (ZVRA) Soars 6.6%: Is Further Upside Left in the Stock?
Zevra Therapeutics (ZVRA) shares ended the last trading session 6.6% higher at $6.14. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1% loss over the past four weeks.
The sudden surge in the stock price can be attributed to the positive investor mindset regarding the company's pipeline candidates. Zevra's new drug application for arimoclomol, to treat Niemann-Pick disease type C, is currently under review with the FDA. A decision from the regulatory body is expected in June 2024. The company's commercial portfolio currently comprises its only marketed product in the United States, Azstarys, for the treatment of attention deficit hyperactivity disorder in patients aged six years and older.
This specialty pharmaceutical company is expected to post quarterly loss of $0.19 per share in its upcoming report, which represents a year-over-year change of +26.9%. Revenues are expected to be $13.52 million, up 482.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Zevra Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZVRA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zevra Therapeutics is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, OptiNose (OPTN), finished the last trading session 6.3% higher at $1.35. OPTN has returned 0% over the past month.
For OptiNose , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.10. This represents a change of +41.2% from what the company reported a year ago. OptiNose currently has a Zacks Rank of #3 (Hold).
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Zevra Therapeutics, Inc. (ZVRA) : Free Stock Analysis Report
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