Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Crosses Below 200 Day Moving Average on Analyst Downgrade

Key Points

• Zevra shares fell below their 200-day moving average, reaching $9.01 and last trading at $9.08 after BTIG cut its price target from $24 to $21, while maintaining a Buy rating.
• Analyst sentiment remains broadly positive: the stock has a consensus Buy rating and a $24.57 average price target. Zevra also beat quarterly earnings expectations, reporting $0.26 per share versus the $0.16 estimate.
• The European Medicines Agency’s CHMP issued a negative opinion on Zevra’s arimoclomol application for Niemann-Pick disease type C, raising the risk that the treatment will not be authorized in the EU.

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) shares crossed below its 200-day moving average during trading on Friday after BTIG Research lowered their price target on the stock from $24.00 to $21.00. The stock has a 200-day moving average of $10.83 and traded as low as $9.01. BTIG Research currently has a buy rating on the stock. Zevra Therapeutics shares last traded at $9.08, with a volume of 2,941,736 shares.

Several other equities analysts have also recently weighed in on ZVRA. UBS Group reiterated a "buy" rating on shares of Zevra Therapeutics in a research report on Thursday, August 20th. Citizens Jmp boosted their price objective on Zevra Therapeutics from $25.00 to $28.00 and gave the company a "market outperform" rating in a research note on Thursday, August 6th. Citigroup reissued an "outperform" rating on shares of Zevra Therapeutics in a report on Thursday, August 6th. William Blair upgraded Zevra Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Zevra Therapeutics in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $24.57.

Insiders Place Their Bets

In other Zevra Therapeutics news, CEO Neil McFarlane sold 20,000 shares of the stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $11.25, for a total value of $225,000.00. Following the sale, the chief executive officer directly owned 417,225 shares in the company, valued at $4,693,781.25. This represents a 4.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.70% of the company's stock.

Top Zevra Therapeutics Stories

Here are a few of the latest stories about ZVRA:

• Positive Sentiment: Cantor Fitzgerald kept its Overweight rating while cutting its target to $19 from $25. Both firms’ revised targets remain well above the cited $9.08 share price, though the reductions temper their outlook. Cantor Fitzgerald ratings
• Neutral Sentiment: Options traders bought 9,221 put contracts Thursday, 121% above the typical daily volume. The activity may reflect increased hedging or bearish positioning, but its significance is uncertain.
• Negative Sentiment: The European Medicines Agency’s CHMP issued a negative opinion on Zevra’s marketing application for arimoclomol to treat Niemann-Pick disease type C. The European Commission will make the final decision, but the opinion raises the risk that the drug will not receive EU authorization, potentially limiting its commercial opportunity in Europe. Zevra’s CHMP opinion announcement

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in Zevra Therapeutics during the third quarter worth about $820,000. Nantahala Capital Management LLC raised its holdings in shares of Zevra Therapeutics by 9.2% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,963,096 shares of the company's stock valued at $21,535,000 after acquiring an additional 165,620 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Zevra Therapeutics by 16.9% during the third quarter. First Trust Advisors LP now owns 12,266 shares of the company's stock worth $135,000 after purchasing an additional 1,771 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Zevra Therapeutics by 3.0% during the third quarter. Royce & Associates LP now owns 909,137 shares of the company's stock worth $9,973,000 after purchasing an additional 26,479 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new position in shares of Zevra Therapeutics in the third quarter worth approximately $31,000. Institutional investors own 35.03% of the company's stock.

Zevra Therapeutics Stock Down 18.6%

The company's 50-day moving average is $10.99 and its two-hundred day moving average is $10.83. The company has a market capitalization of $540.35 million, a P/E ratio of 7.63 and a beta of 1.01.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.10. Zevra Therapeutics had a net margin of 52.80% and a return on equity of 54.64%. The business had revenue of $37.76 million during the quarter, compared to analyst estimates of $37.08 million. On average, sell-side analysts predict that Zevra Therapeutics, Inc. will post 0.88 EPS for the current year.

Zevra Therapeutics Company Profile

Zevra Therapeutics, Inc. is a U.S.-based biopharmaceutical company focused on developing and commercializing treatments for rare diseases. Its work includes research and development as well as bringing therapies to patients with limited treatment options. The company's products include MIPLYFFA (arimoclomol), approved in the United States for neurological manifestations of Niemann-Pick disease type C, and OLPRUVA (sodium phenylbutyrate), a treatment for certain urea cycle disorders. Zevra also advances investigational therapies for rare and complex conditions.

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