Zevra Therapeutics Sees Unusually Large Options Volume (NASDAQ:ZVRA)

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) was the recipient of some unusual options trading on Thursday. Traders bought 9,221 put options on the stock. This is an increase of 121% compared to the typical volume of 4,181 put options.

Trending Headlines about Zevra Therapeutics

These are some of the ZVRA headlines that stood out recently:

• Positive Sentiment: BTIG Research maintained a Buy rating, with a reduced price target of $21 from $24. BTIG Research ratings
• Neutral Sentiment: Options traders bought 9,221 put contracts Thursday, 121% above the typical daily volume. The activity may reflect increased hedging or bearish positioning, but its significance is uncertain.
• Negative Sentiment: The European Medicines Agency’s CHMP issued a negative opinion on Zevra’s marketing application for arimoclomol to treat Niemann-Pick disease type C. The European Commission will make the final decision, but the opinion raises the risk that the drug will not receive EU authorization, potentially limiting its commercial opportunity in Europe. Zevra’s CHMP opinion announcement

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Guggenheim reduced their target price on shares of Zevra Therapeutics from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Canaccord Genuity Group decreased their price target on shares of Zevra Therapeutics from $29.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. UBS Group restated a “buy” rating on shares of Zevra Therapeutics in a research report on Thursday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 19th. Finally, Cantor Fitzgerald dropped their price objective on shares of Zevra Therapeutics from $25.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $24.57.

Zevra Therapeutics Stock Performance

Shares of Zevra Therapeutics stock opened at $9.08 on Friday. Zevra Therapeutics has a one year low of $8.01 and a one year high of $15.03. The company has a market cap of $540.35 million, a price-to-earnings ratio of 7.63 and a beta of 1.01. The business’s 50 day moving average price is $10.99 and its 200 day moving average price is $10.83.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.10. The company had revenue of $37.76 million during the quarter, compared to analysts’ expectations of $37.08 million. Zevra Therapeutics had a return on equity of 54.64% and a net margin of 52.80%. On average, analysts predict that Zevra Therapeutics will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Neil McFarlane sold 20,000 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $11.25, for a total value of $225,000.00. Following the completion of the transaction, the chief executive officer directly owned 417,225 shares of the company’s stock, valued at approximately $4,693,781.25. This represents a 4.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC increased its position in Zevra Therapeutics by 9.2% during the third quarter. Nantahala Capital Management LLC now owns 1,963,096 shares of the company’s stock worth $21,535,000 after purchasing an additional 165,620 shares during the last quarter. Integrity Alliance LLC. purchased a new position in Zevra Therapeutics during the third quarter worth about $10,292,000. Royce & Associates LP boosted its holdings in Zevra Therapeutics by 3.0% in the 3rd quarter. Royce & Associates LP now owns 909,137 shares of the company’s stock valued at $9,973,000 after purchasing an additional 26,479 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Zevra Therapeutics by 259.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 554,802 shares of the company’s stock valued at $5,168,000 after purchasing an additional 400,336 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Zevra Therapeutics by 116.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 383,706 shares of the company’s stock valued at $5,502,000 after purchasing an additional 206,543 shares during the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.

About Zevra Therapeutics

Zevra Therapeutics, Inc. is a U.S.-based biopharmaceutical company focused on developing and commercializing treatments for rare diseases. Its work includes research and development as well as bringing therapies to patients with limited treatment options. The company’s products include MIPLYFFA (arimoclomol), approved in the United States for neurological manifestations of Niemann-Pick disease type C, and OLPRUVA (sodium phenylbutyrate), a treatment for certain urea cycle disorders. Zevra also advances investigational therapies for rare and complex conditions.