Wall Street Zen Upgrades Zevra Therapeutics (NASDAQ:ZVRA) to “Buy”

Zevra Therapeutics (NASDAQ:ZVRA) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Zevra Therapeutics in a research report on Thursday, March 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Zevra Therapeutics in a research report on Wednesday, May 14th. Guggenheim raised their price objective on Zevra Therapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th. JMP Securities set a $18.00 price objective on Zevra Therapeutics in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group raised their price objective on Zevra Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.29.

Zevra Therapeutics Stock Performance

Shares of ZVRA stock opened at $8.65 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.88 and a quick ratio of 2.88. Zevra Therapeutics has a fifty-two week low of $4.20 and a fifty-two week high of $9.76. The stock’s 50-day moving average is $7.59 and its two-hundred day moving average is $8.09. The firm has a market cap of $472.98 million, a P/E ratio of -4.39 and a beta of 1.87.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.15. Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. The business had revenue of $20.40 million for the quarter, compared to analyst estimates of $16.96 million. During the same quarter in the prior year, the firm posted ($0.40) EPS. Analysts predict that Zevra Therapeutics will post -1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zevra Therapeutics news, Director John B. Bode acquired 10,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of $7.96 per share, for a total transaction of $79,600.00. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $318,400. This represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zevra Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Woodline Partners LP grew its position in Zevra Therapeutics by 11.5% during the first quarter. Woodline Partners LP now owns 4,615,625 shares of the company’s stock worth $34,571,000 after buying an additional 476,032 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Zevra Therapeutics by 462.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company’s stock worth $30,441,000 after buying an additional 3,001,000 shares in the last quarter. Vanguard Group Inc. grew its position in Zevra Therapeutics by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company’s stock worth $23,554,000 after buying an additional 68,151 shares in the last quarter. Altium Capital Management LLC grew its position in Zevra Therapeutics by 8.8% during the fourth quarter. Altium Capital Management LLC now owns 1,850,000 shares of the company’s stock worth $15,429,000 after buying an additional 150,000 shares in the last quarter. Finally, AIGH Capital Management LLC grew its position in Zevra Therapeutics by 82.4% during the first quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company’s stock worth $10,771,000 after buying an additional 649,495 shares in the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.

Zevra Therapeutics Company Profile

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.