Zevra Therapeutics (NASDAQ:ZVRA) Hits New 1-Year High – Here’s Why

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.75 and last traded at $14.7450, with a volume of 102392 shares. The stock had previously closed at $14.44.

Analysts Set New Price Targets

ZVRA has been the subject of several analyst reports. Guggenheim raised their price target on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Canaccord Genuity Group increased their price objective on Zevra Therapeutics from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a research note on Tuesday, June 9th. Maxim Group boosted their target price on Zevra Therapeutics from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, Citizens Jmp upped their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, June 9th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.29.

Zevra Therapeutics Trading Down 5.5%

The business has a fifty day moving average price of $12.03 and a 200-day moving average price of $10.19. The stock has a market capitalization of $824.13 million, a PE ratio of 7.01 and a beta of 0.85.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12. The company had revenue of $36.22 million for the quarter, compared to analysts’ expectations of $31.96 million. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%. On average, equities analysts anticipate that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. grew its holdings in shares of Zevra Therapeutics by 78.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 409,000 shares of the company’s stock valued at $3,665,000 after purchasing an additional 180,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Zevra Therapeutics by 1,458.8% in the third quarter. JPMorgan Chase & Co. now owns 438,984 shares of the company’s stock worth $4,175,000 after purchasing an additional 410,823 shares during the last quarter. AIGH Capital Management LLC purchased a new stake in Zevra Therapeutics during the first quarter valued at about $11,184,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Zevra Therapeutics during the fourth quarter valued at about $1,251,000. Finally, Kingdon Capital Management L.L.C. grew its stake in shares of Zevra Therapeutics by 44.4% during the third quarter. Kingdon Capital Management L.L.C. now owns 650,000 shares of the company’s stock valued at $6,182,000 after buying an additional 200,000 shares during the last quarter. 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.