Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Receives $29.29 Consensus Price Target from Brokerages

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $26.8571.

A number of equities research analysts have 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. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Zevra Therapeutics in a research note on Tuesday, June 23rd. Citigroup reaffirmed an “outperform” rating on shares of Zevra Therapeutics in a research report on Tuesday, June 9th. BTIG Research dropped their price objective on shares of Zevra Therapeutics from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Monday. Finally, Citizens Jmp boosted their price objective on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, June 9th.

Zevra Therapeutics Trading Up 2.0%

NASDAQ:ZVRA opened at $9.71 on Friday. The stock has a market cap of $574.06 million, a P/E ratio of 4.88 and a beta of 0.85. The stock has a 50 day simple moving average of $12.36 and a 200 day simple moving average of $10.49. Zevra Therapeutics has a 1-year low of $7.16 and a 1-year high of $15.03.

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

Institutional Investors Weigh In On Zevra Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC bought a new stake in shares of Zevra Therapeutics in the first quarter valued at approximately $11,184,000. Marshall Wace LLP bought a new position in Zevra Therapeutics during the 3rd quarter worth $8,676,000. Rubric Capital Management LP increased its stake in 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 acquiring an additional 740,584 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings 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 valued at $36,720,000 after acquiring an additional 550,000 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its holdings 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 valued at $18,753,000 after acquiring an additional 500,000 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors and hedge funds.

About Zevra Therapeutics

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.