Zevra Therapeutics (NASDAQ:ZVRA) Shares Gap Down – Here’s What Happened

Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) gapped down prior to trading on Friday . The stock had previously closed at $12.52, but opened at $9.21. Zevra Therapeutics shares last traded at $10.04, with a volume of 2,268,927 shares changing hands.

Analysts Set New Price Targets

ZVRA has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating on shares of Zevra Therapeutics in a report on Wednesday, June 24th. Guggenheim upped their price objective on Zevra Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Citizens Jmp raised their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 9th. Wall Street Zen upgraded Zevra Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Canaccord Genuity Group boosted their price target on shares of Zevra Therapeutics from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.29.

Zevra Therapeutics Stock Performance

The firm has a 50 day moving average price of $12.37 and a two-hundred day moving average price of $10.46. The company has a market cap of $562.82 million, a P/E ratio of 4.78 and a beta of 0.85.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.06 by $0.12. Zevra Therapeutics had a net margin of 101.58% and a return on equity of 51.49%. The business had revenue of $36.22 million for the quarter, compared to the consensus estimate of $31.96 million. On average, sell-side analysts predict that Zevra Therapeutics, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Zevra Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Zevra Therapeutics during the fourth quarter worth $53,000. Russell Investments Group Ltd. boosted its holdings in shares of Zevra Therapeutics by 235.7% in the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company’s stock worth $61,000 after acquiring an additional 4,475 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock valued at $88,000 after purchasing an additional 8,552 shares in the last quarter. Creative Planning purchased a new position in shares of Zevra Therapeutics in the second quarter valued at $92,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Zevra Therapeutics in the second quarter valued at $99,000. Institutional investors 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. 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.