Readystate Asset Management LP Grows Stake in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Readystate Asset Management LP grew its position in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 924.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 683,032 shares of the company's stock after acquiring an additional 616,370 shares during the quarter. Readystate Asset Management LP owned 1.25% of Zevra Therapeutics worth $5,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. increased its holdings in Zevra Therapeutics by 462.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company's stock worth $30,441,000 after buying an additional 3,001,000 shares during the last quarter. AIGH Capital Management LLC purchased a new stake in Zevra Therapeutics during the fourth quarter worth about $6,577,000. Barclays PLC increased its holdings in Zevra Therapeutics by 402.9% during the fourth quarter. Barclays PLC now owns 289,688 shares of the company's stock worth $2,416,000 after buying an additional 232,089 shares during the last quarter. Altium Capital Management LLC raised its stake in Zevra Therapeutics by 8.8% in the 4th quarter. Altium Capital Management LLC now owns 1,850,000 shares of the company's stock valued at $15,429,000 after acquiring an additional 150,000 shares during the period. Finally, Geode Capital Management LLC raised its stake in Zevra Therapeutics by 13.8% in the 4th quarter. Geode Capital Management LLC now owns 1,188,120 shares of the company's stock valued at $9,912,000 after acquiring an additional 144,256 shares during the period. 35.03% of the stock is owned by institutional investors.

Zevra Therapeutics Trading Down 3.8%

ZVRA stock traded down $0.44 during midday trading on Friday, hitting $11.23. The company had a trading volume of 718,776 shares, compared to its average volume of 624,731. The company has a current ratio of 3.02, a quick ratio of 2.93 and a debt-to-equity ratio of 1.46. Zevra Therapeutics, Inc. has a 52 week low of $5.45 and a 52 week high of $13.16. The stock's 50 day moving average price is $9.83 and its 200 day moving average price is $8.44. The stock has a market cap of $614.06 million, a price-to-earnings ratio of -5.92 and a beta of 1.97.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.15. The business had revenue of $20.40 million during the quarter, compared to the consensus estimate of $16.96 million. Zevra Therapeutics had a negative return on equity of 201.05% and a negative net margin of 226.78%. During the same quarter in the prior year, the company earned ($0.40) earnings per share. As a group, equities research analysts expect that Zevra Therapeutics, Inc. will post -1.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald lifted their target price on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, May 14th. Finally, HC Wainwright started coverage on shares of Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $23.71.

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.