Millennium Management LLC Boosts Stock Holdings in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Millennium Management LLC boosted its stake in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 138.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,132 shares of the company's stock after purchasing an additional 135,246 shares during the quarter. Millennium Management LLC owned about 0.44% of Zevra Therapeutics worth $1,944,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its stake in Zevra Therapeutics by 462.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company's stock valued at $30,441,000 after acquiring an additional 3,001,000 shares during the period. Vanguard Group Inc. grew its stake in Zevra Therapeutics by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company's stock valued at $23,554,000 after acquiring an additional 68,151 shares during the period. Altium Capital Management LLC grew its stake in Zevra Therapeutics by 8.8% in the fourth 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. Geode Capital Management LLC grew its stake in Zevra Therapeutics by 13.8% in the fourth 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. Finally, AIGH Capital Management LLC acquired a new position in Zevra Therapeutics in the fourth quarter valued at about $6,577,000. Institutional investors own 35.03% of the company's stock.

Insider Activity

In related news, Director John B. Bode bought 10,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were purchased at an average cost of $7.96 per share, with a total value of $79,600.00. Following the acquisition, the director now owns 40,000 shares of the company's stock, valued at $318,400. This represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZVRA. JMP Securities set a $18.00 target price on Zevra Therapeutics in a research note on Wednesday, March 12th. Wall Street Zen raised Zevra Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group boosted their target price on Zevra Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, March 13th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Zevra Therapeutics in a research report on Thursday, March 13th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a research report on Wednesday, May 14th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $22.29.

Zevra Therapeutics Stock Performance

NASDAQ:ZVRA traded up $0.08 on Wednesday, hitting $8.95. The company's stock had a trading volume of 512,415 shares, compared to its average volume of 648,772. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $7.67 and a two-hundred day moving average of $8.07. The firm has a market capitalization of $489.39 million, a P/E ratio of -4.54 and a beta of 2.01. Zevra Therapeutics, Inc. has a one year low of $4.20 and a one year high of $9.76.

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

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.