HC Wainwright Increases Zevra Therapeutics (NASDAQ:ZVRA) Price Target to $20.00

Zevra Therapeutics (NASDAQ:ZVRA) had its price objective increased by stock analysts at HC Wainwright from $18.00 to $20.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 148.45% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. William Blair raised shares of Zevra Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Canaccord Genuity Group lowered their price objective on Zevra Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zevra Therapeutics in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $21.25.

Zevra Therapeutics Price Performance

Zevra Therapeutics stock traded up $0.03 during midday trading on Friday, reaching $8.05. 2,662,908 shares of the stock were exchanged, compared to its average volume of 453,451. The firm has a market cap of $336.92 million, a PE ratio of -5.98 and a beta of 1.94. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00. The company’s fifty day moving average is $7.00 and its 200-day moving average is $5.70. Zevra Therapeutics has a 52 week low of $3.89 and a 52 week high of $8.95.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). Zevra Therapeutics had a negative net margin of 274.10% and a negative return on equity of 124.85%. The business had revenue of $4.45 million for the quarter, compared to the consensus estimate of $4.08 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. On average, sell-side analysts forecast that Zevra Therapeutics will post -1.58 EPS for the current year.

Insider Buying and Selling at Zevra Therapeutics

In other news, Director John B. Bode acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were bought at an average price of $5.87 per share, with a total value of $58,700.00. Following the completion of the purchase, the director now directly owns 30,000 shares in the company, valued at $176,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 22,000 shares of company stock worth $140,340 over the last 90 days. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Zevra Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Zevra Therapeutics by 15.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock valued at $91,000 after purchasing an additional 2,452 shares in the last quarter. Rhumbline Advisers increased its position in Zevra Therapeutics by 17.9% during the second quarter. Rhumbline Advisers now owns 56,874 shares of the company’s stock worth $279,000 after purchasing an additional 8,619 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Zevra Therapeutics in the 1st quarter valued at about $64,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Zevra Therapeutics by 102.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 34,707 shares of the company’s stock worth $201,000 after acquiring an additional 17,557 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Zevra Therapeutics by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 220,499 shares of the company’s stock valued at $1,080,000 after buying an additional 21,231 shares in the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.

About Zevra Therapeutics

Zevra Therapeutics, Inc discovers and develops various proprietary prodrugs to treat serious medical conditions in the United States. The company develops its products through Ligand Activated Therapy platform. Its lead product candidate is KP1077, consisting of KP1077IH, which is under Phase 2 clinical trial for the treatment of idiopathic hypersomnia, and KP1077N, which is under Phase ½ clinical trial to treat narcolepsy.