Zevra Therapeutics (NASDAQ:ZVRA) Trading Down 4.3% – Here’s What Happened

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) was down 4.3% on Thursday . The stock traded as low as $12.98 and last traded at $12.9250. Approximately 169,865 shares were traded during trading, a decline of 87% from the average daily volume of 1,284,429 shares. The stock had previously closed at $13.50.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ZVRA. Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a report on Tuesday. Cantor Fitzgerald increased their price objective on Zevra Therapeutics from $24.00 to $34.00 and gave the company an “overweight” rating in a report on Monday. Citizens Jmp increased their price objective on Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday. Maxim Group increased their price objective on Zevra Therapeutics from $25.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings lowered Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Zevra Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.29.

Zevra Therapeutics Price Performance

The stock has a fifty day moving average price of $10.55 and a 200 day moving average price of $9.45. The stock has a market capitalization of $781.68 million, a P/E ratio of 6.62 and a beta of 0.91.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%.The firm had revenue of $36.22 million during the quarter, compared to analyst estimates of $31.96 million. Research analysts anticipate that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Zevra Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ZVRA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Zevra Therapeutics by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company’s stock valued at $238,000 after acquiring an additional 1,812 shares during the period. Strs Ohio purchased a new stake in Zevra Therapeutics in the 1st quarter worth approximately $125,000. Creative Planning purchased a new stake in Zevra Therapeutics in the 2nd quarter worth approximately $92,000. Rhumbline Advisers boosted its holdings in Zevra Therapeutics by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 83,221 shares of the company’s stock valued at $733,000 after purchasing an additional 8,636 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Zevra Therapeutics during the 2nd quarter valued at $255,000. 35.03% of the stock is owned by hedge funds and other institutional investors.

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.