Adage Capital Partners GP L.L.C. Has $30.44 Million Stake in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Adage Capital Partners GP L.L.C. lifted its stake in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 462.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,650,000 shares of the company's stock after purchasing an additional 3,001,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 6.84% of Zevra Therapeutics worth $30,441,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. IFG Advisors LLC boosted its stake in Zevra Therapeutics by 10.0% in the fourth quarter. IFG Advisors LLC now owns 29,050 shares of the company's stock valued at $242,000 after acquiring an additional 2,650 shares during the last quarter. Invesco Ltd. boosted its stake in Zevra Therapeutics by 19.6% in the fourth quarter. Invesco Ltd. now owns 18,384 shares of the company's stock valued at $153,000 after acquiring an additional 3,007 shares during the last quarter. Corebridge Financial Inc. boosted its position in shares of Zevra Therapeutics by 16.9% during the fourth quarter. Corebridge Financial Inc. now owns 26,294 shares of the company's stock worth $219,000 after purchasing an additional 3,801 shares in the last quarter. Mystic Asset Management Inc. boosted its position in shares of Zevra Therapeutics by 1.9% during the fourth quarter. Mystic Asset Management Inc. now owns 313,347 shares of the company's stock worth $2,613,000 after purchasing an additional 5,900 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Zevra Therapeutics by 51.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,565 shares of the company's stock worth $172,000 after purchasing an additional 6,966 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ZVRA shares. JMP Securities set a $18.00 price target on shares of Zevra Therapeutics in a research report on Wednesday, March 12th. HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of Zevra Therapeutics in a research report on Thursday, March 13th. Canaccord Genuity Group raised their price objective on shares of Zevra Therapeutics from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, March 13th. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, March 12th. Finally, Guggenheim raised their price objective on shares of Zevra Therapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, March 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $22.29.

Zevra Therapeutics Stock Up 5.8 %

ZVRA stock traded up $0.43 during midday trading on Thursday, hitting $7.76. The company's stock had a trading volume of 418,513 shares, compared to its average volume of 611,508. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.88 and a quick ratio of 2.88. Zevra Therapeutics, Inc. has a twelve month low of $4.20 and a twelve month high of $9.76. The company's fifty day moving average price is $7.49 and its 200 day moving average price is $8.10. The stock has a market capitalization of $424.04 million, a P/E ratio of -3.92 and a beta of 1.94.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.28). Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 159.54%. The firm had revenue of $12.00 million during the quarter, compared to the consensus estimate of $8.93 million. As a group, equities research analysts predict that Zevra Therapeutics, Inc. will post -1.95 EPS for the current year.

Insider Activity

In other news, CEO Neil F. Mcfarlane sold 61,273 shares of Zevra Therapeutics stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.86, for a total value of $481,605.78. Following the completion of the transaction, the chief executive officer now owns 222,060 shares of the company's stock, valued at $1,745,391.60. This trade represents a 21.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Bode acquired 10,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of $7.96 per share, with a total value of $79,600.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $318,400. This trade represents a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 85,773 shares of company stock valued at $674,176 in the last quarter. Company insiders own 2.40% of the company's stock.

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.