Zevra Therapeutics initiated with an Outperform at JMP Securities

JMP Securities initiated coverage of Zevra Therapeutics with an Outperform rating and $17 price target. Zevra is developing and commercializing a portfolio of novel medicines to treat rare diseases and its pipeline includes acquired candidates and those leveraging its legacy prodrug platform, the analyst tells investors in a research note. The firm believes last week’s approval of Miplyffa for the treatment of Niemann-Pick disease type C can be transformational for the company, with the potential to establish the product as a cornerstone therapy for patients.