Globeflex Capital L P Invests $2.75 Million in Zevra Therapeutics, Inc. $ZVRA

Globeflex Capital L P acquired a new stake in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) in the second quarter, HoldingsChannel reports. The firm acquired 191,904 shares of the company’s stock, valued at approximately $2,752,000.

Several other hedge funds also recently bought and sold shares of the business. AIGH Capital Management LLC bought a new stake in shares of Zevra Therapeutics during the first quarter worth $11,184,000. Marshall Wace LLP bought a new position in shares of Zevra Therapeutics in the third quarter worth about $8,676,000. Rubric Capital Management LP increased its stake in Zevra Therapeutics by 60.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company’s stock worth $17,253,000 after buying an additional 740,584 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Zevra Therapeutics by 15.2% in 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 buying an additional 550,000 shares during the period. Finally, Nantahala Capital Management LLC increased its stake in Zevra Therapeutics by 34.0% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company’s stock worth $18,753,000 after buying an additional 500,000 shares during the period. Institutional investors own 35.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Zevra Therapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of Zevra Therapeutics in a research report on Thursday. BTIG Research lowered their price target on Zevra Therapeutics from $27.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Zevra Therapeutics in a research note on Wednesday. Finally, Citizens Jmp lifted their target price on Zevra Therapeutics from $25.00 to $28.00 and gave the company a “market outperform” rating in a research report on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.14.

Zevra Therapeutics Stock Performance

NASDAQ ZVRA opened at $11.87 on Monday. The company has a market capitalization of $704.84 million, a price-to-earnings ratio of 12.90 and a beta of 0.91. The company’s 50-day simple moving average is $12.23 and its two-hundred day simple moving average is $10.77. Zevra Therapeutics, Inc. has a one year low of $7.16 and a one year high of $15.03.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.14. Zevra Therapeutics had a net margin of 42.82% and a return on equity of 54.54%. The firm had revenue of $39.66 million during the quarter, compared to analysts’ expectations of $33.88 million. Equities analysts expect that Zevra Therapeutics, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Corey Michael Watton sold 12,300 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $11.25, for a total value of $138,375.00. Following the completion of the transaction, the director owned 1,800 shares of the company’s stock, valued at $20,250. The trade was a 87.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by company insiders.

Zevra Therapeutics 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.