Zevra Therapeutics (NASDAQ:ZVRA) Cut to “Hold” at Wall Street Zen

Zevra Therapeutics (NASDAQ:ZVRA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the stock. HC Wainwright set a $26.00 price target on shares of Zevra Therapeutics in a report on Tuesday, December 30th. Guggenheim set a $23.00 price objective on shares of Zevra Therapeutics and gave the company a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings raised shares of Zevra Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Zevra Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Zevra Therapeutics Stock Down 2.1%

Shares of Zevra Therapeutics stock opened at $9.98 on Friday. The company has a quick ratio of 8.57, a current ratio of 5.68 and a debt-to-equity ratio of 0.40. The company has a market cap of $585.93 million, a P/E ratio of 7.50 and a beta of 0.91. The firm’s 50 day moving average price is $8.93 and its 200-day moving average price is $9.10. Zevra Therapeutics has a 52-week low of $6.19 and a 52-week high of $13.16.

Insider Buying and Selling

In other news, insider Joshua Schafer sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $9.19, for a total transaction of $96,495.00. Following the sale, the insider owned 62,278 shares of the company’s stock, valued at $572,334.82. This trade represents a 14.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adrian W. Quartel sold 4,533 shares of Zevra Therapeutics stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $8.83, for a total transaction of $40,026.39. Following the transaction, the insider directly owned 9,723 shares of the company’s stock, valued at approximately $85,854.09. This trade represents a 31.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,158 shares of company stock valued at $1,062,878 in the last three months. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Zevra Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ZVRA. Royce & Associates LP acquired a new position in shares of Zevra Therapeutics in the third quarter worth about $6,574,000. Stonepine Capital Management LLC boosted its stake in shares of Zevra Therapeutics by 19.3% during the 2nd quarter. Stonepine Capital Management LLC now owns 775,620 shares of the company’s stock worth $6,833,000 after acquiring an additional 125,620 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Zevra Therapeutics during the 2nd quarter valued at about $2,779,000. Legal & General Group Plc increased its stake in shares of Zevra Therapeutics by 26.8% in the 2nd quarter. Legal & General Group Plc now owns 935,677 shares of the company’s stock valued at $8,243,000 after purchasing an additional 197,940 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Zevra Therapeutics in the 2nd quarter valued at about $733,000. 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. The company is also developing Celiprolol, a prodrug product candidate that is under Phase 1/2 clinical trial for the treatment of vascular Ehlers Danlos syndrome.