Zevra Therapeutics (NASDAQ:ZVRA) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zevra Therapeutics (NASDAQ:ZVRA) was downgraded from a "strong-buy" to a "hold" rating by Zacks Research, indicating a shift in investment sentiment.
• Despite the downgrade, other analysts maintain a generally positive outlook, with one holding a "strong buy" rating and eight rating it as a "buy" with an average price target of $23.71.
• The company's stock has had a volatile year, with a low of $6.19 and a high of $13.16, currently opening at $8.9520.

Zacks Research downgraded shares of Zevra Therapeutics (NASDAQ:ZVRA - Free Report) from a strong-buy rating to a hold rating in a report published on Monday, August 18th,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research report on Wednesday, August 13th. HC Wainwright began coverage on Zevra Therapeutics in a research report on Wednesday, July 2nd. They set a "buy" rating and a $26.00 price objective on the stock. JMP Securities reduced their price objective on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 13th. Finally, Cantor Fitzgerald boosted their price objective on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $23.71.

Zevra Therapeutics Price Performance

Shares of Zevra Therapeutics stock traded down $0.1570 during trading on Monday, reaching $9.2830. 816,469 shares of the company's stock were exchanged, compared to its average volume of 754,005. 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 has a 1-year low of $6.19 and a 1-year high of $13.16. The company has a market cap of $521.05 million, a P/E ratio of -44.26 and a beta of 1.87. The firm's 50-day moving average price is $10.56 and its 200 day moving average price is $8.81.

Insider Activity at Zevra Therapeutics

In related news, Director John B. Bode purchased 5,000 shares of Zevra Therapeutics stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $9.16 per share, for a total transaction of $45,800.00. Following the transaction, the director owned 45,000 shares of the company's stock, valued at approximately $412,200. This represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Zevra Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Woodline Partners LP grew its position in shares of Zevra Therapeutics by 11.5% in the 1st quarter. Woodline Partners LP now owns 4,615,625 shares of the company's stock valued at $34,571,000 after buying an additional 476,032 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Zevra Therapeutics by 15.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company's stock valued at $36,720,000 after purchasing an additional 550,000 shares in the last quarter. Rubric Capital Management LP boosted its position in shares of Zevra Therapeutics by 60.8% during the 2nd quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company's stock valued at $17,253,000 after purchasing an additional 740,584 shares in the last quarter. AIGH Capital Management LLC boosted its position in shares of Zevra Therapeutics by 82.4% during the 1st 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Zevra Therapeutics by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,242,386 shares of the company's stock valued at $10,948,000 after purchasing an additional 9,275 shares in the last quarter. Institutional investors own 35.03% of the company's stock.

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.