Zevra Therapeutics, Inc. $ZVRA is Stonepine Capital Management LLC's 4th Largest Position

Key Points

• Stonepine Capital Management LLC has increased its holdings in Zevra Therapeutics by 8.8%, now owning 650,000 shares, making it the fourth largest holding in their portfolio.
• Multiple institutional investors, including Adage Capital Partners which raised its stake by 462.4%, have significantly increased their positions in Zevra Therapeutics recently.
• Zevra Therapeutics has an average analyst rating of “Buy” with a consensus price target of $23.71, highlighting potential growth prospects.

Stonepine Capital Management LLC grew its stake in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 650,000 shares of the company's stock after purchasing an additional 52,300 shares during the quarter. Zevra Therapeutics accounts for 4.7% of Stonepine Capital Management LLC's investment portfolio, making the stock its 4th biggest position. Stonepine Capital Management LLC owned 1.19% of Zevra Therapeutics worth $4,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Invesco Ltd. lifted its stake in shares of Zevra Therapeutics by 19.6% during the fourth quarter. Invesco Ltd. now owns 18,384 shares of the company's stock worth $153,000 after purchasing an additional 3,007 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Zevra Therapeutics by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 153,331 shares of the company's stock worth $1,148,000 after acquiring an additional 3,827 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Zevra Therapeutics by 36.1% in the fourth quarter. Squarepoint Ops LLC now owns 16,534 shares of the company's stock worth $138,000 after acquiring an additional 4,384 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Zevra Therapeutics in the fourth quarter worth about $53,000. Finally, Rhumbline Advisers lifted its stake in shares of Zevra Therapeutics by 9.6% in the first quarter. Rhumbline Advisers now owns 74,585 shares of the company's stock worth $559,000 after acquiring an additional 6,532 shares in the last quarter. Institutional investors and hedge funds own 35.03% of the company's stock.

Zevra Therapeutics Stock Up 0.5%

Shares of ZVRA traded up $0.05 during mid-day trading on Tuesday, reaching $9.41. The company's stock had a trading volume of 582,668 shares, compared to its average volume of 1,658,008. The business has a fifty day moving average of $10.58 and a 200 day moving average of $8.83. The company has a market cap of $528.18 million, a price-to-earnings ratio of -44.81 and a beta of 1.87. Zevra Therapeutics, Inc. has a 1 year low of $6.19 and a 1 year high of $13.16. The company has a quick ratio of 7.81, a current ratio of 7.85 and a debt-to-equity ratio of 0.52.

Insider Activity

In related news, Director John B. Bode purchased 5,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $9.16 per share, with a total value of $45,800.00. Following the completion of the purchase, the director owned 45,000 shares of the company's stock, valued at $412,200. The trade was a 12.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ZVRA shares. Zacks Research cut Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Citigroup reiterated an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. Wall Street Zen lowered Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. HC Wainwright began coverage on Zevra Therapeutics in a report on Wednesday, July 2nd. They set a "buy" rating and a $26.00 target price for the company. Finally, Cantor Fitzgerald upped their target price on Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus 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.