Bank of America Corp DE Increases Position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Bank of America Corp DE lifted its stake in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 222.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,245 shares of the company's stock after purchasing an additional 67,772 shares during the period. Bank of America Corp DE owned approximately 0.18% of Zevra Therapeutics worth $819,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. IFG Advisors LLC increased its holdings 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 buying an additional 2,650 shares in the last quarter. Invesco Ltd. increased its stake in Zevra Therapeutics by 19.6% in the 4th quarter. Invesco Ltd. now owns 18,384 shares of the company's stock valued at $153,000 after purchasing an additional 3,007 shares in the last quarter. Corebridge Financial Inc. increased its stake in Zevra Therapeutics by 16.9% in the 4th quarter. Corebridge Financial Inc. now owns 26,294 shares of the company's stock valued at $219,000 after purchasing an additional 3,801 shares in the last quarter. Mystic Asset Management Inc. raised its holdings in 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 during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Zevra Therapeutics during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 35.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZVRA. HC Wainwright restated a "buy" rating and issued a $20.00 price target on shares of Zevra Therapeutics in a research report on Thursday, March 13th. Guggenheim raised their target price on shares of Zevra Therapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, March 13th. Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, May 14th. Canaccord Genuity Group increased their price target on shares of Zevra Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price objective on shares of Zevra Therapeutics in a research report on Wednesday, May 14th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $22.29.

Zevra Therapeutics Stock Performance

Shares of ZVRA opened at $9.26 on Monday. Zevra Therapeutics, Inc. has a 1 year low of $4.20 and a 1 year high of $9.76. The company's 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.07. The company has a market capitalization of $506.34 million, a price-to-earnings ratio of -4.70 and a beta of 2.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.88 and a current ratio of 2.88.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.15. Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. The company had revenue of $20.40 million for the quarter, compared to analyst estimates of $16.96 million. During the same quarter in the prior year, the company posted ($0.40) EPS. On average, sell-side analysts predict that Zevra Therapeutics, Inc. will post -1.95 EPS for the current year.

Insider Activity at Zevra Therapeutics

In related news, Director John B. Bode bought 10,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average cost of $7.96 per share, for a total transaction of $79,600.00. Following the completion of the acquisition, the director now owns 40,000 shares in the company, valued at $318,400. This trade represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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