Stonepine Capital Management LLC Buys 52,300 Shares of Zevra Therapeutics, Inc. $ZVRA

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 holdings in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing 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 comprises approximately 4.7% of Stonepine Capital Management LLC's portfolio, making the stock its 4th largest holding. Stonepine Capital Management LLC owned approximately 1.19% of Zevra Therapeutics worth $4,868,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Woodline Partners LP lifted its stake in Zevra Therapeutics by 2.2% in the 4th quarter. Woodline Partners LP now owns 4,139,593 shares of the company's stock worth $34,524,000 after purchasing an additional 90,940 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position 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 purchasing an additional 3,001,000 shares during the period. AIGH Capital Management LLC raised its position in Zevra Therapeutics by 82.4% in the first quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company's stock valued at $10,771,000 after purchasing an additional 649,495 shares during the period. Readystate Asset Management LP raised its position in Zevra Therapeutics by 924.6% in the first quarter. Readystate Asset Management LP now owns 683,032 shares of the company's stock valued at $5,116,000 after purchasing an additional 616,370 shares during the period. Finally, Northern Trust Corp raised its position in Zevra Therapeutics by 22.9% in the fourth quarter. Northern Trust Corp now owns 435,972 shares of the company's stock valued at $3,636,000 after purchasing an additional 81,252 shares during the period. 35.03% of the stock is owned by hedge funds and other institutional investors.

Zevra Therapeutics Stock Performance

NASDAQ ZVRA traded down $0.21 during trading hours on Friday, hitting $9.10. The company had a trading volume of 360,370 shares, compared to its average volume of 754,374. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.81 and a current ratio of 7.85. Zevra Therapeutics, Inc. has a 1-year low of $6.19 and a 1-year high of $13.16. The company has a market cap of $510.55 million, a PE ratio of -43.26 and a beta of 1.87. The business has a 50 day moving average of $10.59 and a 200-day moving average of $8.84.

Insider Activity at Zevra Therapeutics

In other Zevra Therapeutics news, Director John B. Bode bought 5,000 shares of Zevra Therapeutics stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $9.16 per share, with a total value of $45,800.00. Following the completion of the acquisition, the director owned 45,000 shares of the company's stock, valued at approximately $412,200. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Cantor Fitzgerald boosted their price target 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. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. JMP Securities dropped their price target on shares of Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 13th. Finally, Zacks Research downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $23.71.

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.