Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Receives $21.71 Average Price Target from Brokerages

Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) have received a consensus rating of “Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $22.14.

A number of brokerages have commented on ZVRA. Citigroup reiterated an “outperform” rating on shares of Zevra Therapeutics in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Zevra Therapeutics in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on Zevra Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Zevra Therapeutics in a report on Thursday. Finally, Guggenheim lifted their price target on Zevra Therapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday.

Zevra Therapeutics Stock Performance

NASDAQ ZVRA opened at $8.31 on Wednesday. Zevra Therapeutics has a 52-week low of $4.20 and a 52-week high of $9.76. The company has a fifty day moving average of $7.93 and a 200-day moving average of $8.15. The company has a market capitalization of $443.55 million, a P/E ratio of -4.22 and a beta of 1.98. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.88 and a current ratio of 2.88.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.28). Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. The firm had revenue of $12.00 million for the quarter, compared to the consensus estimate of $8.93 million. As a group, equities research analysts predict that Zevra Therapeutics will post -1.95 EPS for the current fiscal year.

Insider Activity at Zevra Therapeutics

In other news, CFO R. Laduane Clifton sold 11,000 shares of Zevra Therapeutics stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.86, for a total value of $86,460.00. Following the sale, the chief financial officer now directly owns 51,361 shares in the company, valued at approximately $403,697.46. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil F. Mcfarlane sold 61,273 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.86, for a total value of $481,605.78. Following the transaction, the chief executive officer now owns 222,060 shares of the company’s stock, valued at approximately $1,745,391.60. This represents a 21.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,773 shares of company stock worth $674,176 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Zevra Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Woodline Partners LP raised its stake in Zevra Therapeutics by 2.2% in the fourth quarter. Woodline Partners LP now owns 4,139,593 shares of the company’s stock worth $34,524,000 after buying an additional 90,940 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Zevra Therapeutics by 462.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company’s stock worth $30,441,000 after acquiring an additional 3,001,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Zevra Therapeutics by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company’s stock valued at $23,554,000 after purchasing an additional 68,151 shares during the period. FMR LLC boosted its position in shares of Zevra Therapeutics by 282,687.5% during the third quarter. FMR LLC now owns 2,313,202 shares of the company’s stock valued at $16,054,000 after purchasing an additional 2,312,384 shares in the last quarter. Finally, Altium Capital Management LLC grew its stake in Zevra Therapeutics by 8.8% in the fourth quarter. Altium Capital Management LLC now owns 1,850,000 shares of the company’s stock worth $15,429,000 after purchasing an additional 150,000 shares during the period. 35.03% of the stock is owned by hedge funds and other institutional investors.

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.