Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Up 9.5% Following Analyst Upgrade

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares were up 9.5% during mid-day trading on Monday after Cantor Fitzgerald raised their price target on the stock from $24.00 to $34.00. Cantor Fitzgerald currently has an overweight rating on the stock. Zevra Therapeutics traded as high as $11.58 and last traded at $11.62. Approximately 1,139,051 shares changed hands during trading, a decline of 7% from the average daily volume of 1,221,209 shares. The stock had previously closed at $10.61.

Several other research analysts also recently weighed in on the company. Weiss Ratings downgraded Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Wall Street Zen cut Zevra Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. BTIG Research assumed coverage on Zevra Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $23.00 target price for the company. Finally, Guggenheim increased their target price on Zevra Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Institutional Trading of Zevra Therapeutics

Several institutional investors have recently made changes to their positions in ZVRA. AIGH Capital Management LLC purchased a new position in shares of Zevra Therapeutics in the 1st quarter worth about $11,184,000. Marshall Wace LLP acquired a new position in shares of Zevra Therapeutics in the 3rd quarter valued at about $8,676,000. Rubric Capital Management LP grew its holdings in shares of Zevra Therapeutics by 60.8% during the 2nd quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company’s stock worth $17,253,000 after purchasing an additional 740,584 shares during the period. Royce & Associates LP purchased a new stake in shares of Zevra Therapeutics during the 3rd quarter worth about $6,574,000. Finally, Adage Capital Partners GP L.L.C. increased its position in Zevra Therapeutics by 15.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company’s stock worth $36,720,000 after purchasing an additional 550,000 shares in the last quarter. 35.03% of the stock is owned by hedge funds and other institutional investors.

Zevra Therapeutics Stock Up 13.4%

The company’s fifty day moving average is $10.32 and its 200 day moving average is $9.37. The stock has a market cap of $711.15 million, a PE ratio of 6.04 and a beta of 0.91.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 company had revenue of $36.22 million during the quarter, compared to the consensus estimate of $31.96 million. Equities analysts expect that Zevra Therapeutics, Inc. will post 0.56 EPS for the current year.

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.