Zacks Research Downgrades Zevra Therapeutics (NASDAQ:ZVRA) to Hold

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.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the company. HC Wainwright assumed coverage on Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 price target for the company. Wall Street Zen downgraded Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. JMP Securities reduced their target price on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 13th. Cantor Fitzgerald increased their target price on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, August 13th. One 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 company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $23.71.

Zevra Therapeutics Price Performance

ZVRA stock opened at $8.9520 on Monday. 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 firm has a market cap of $502.52 million, a P/E ratio of -42.56 and a beta of 1.87. The stock has a 50-day simple moving average of $10.55 and a 200-day simple moving average of $8.78.

Institutional Trading of Zevra Therapeutics

Several large investors have recently added to or reduced their stakes in ZVRA. Woodline Partners LP increased its position in shares of Zevra Therapeutics by 11.5% during the 1st quarter. Woodline Partners LP now owns 4,615,625 shares of the company's stock valued at $34,571,000 after purchasing an additional 476,032 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Zevra Therapeutics by 15.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company's stock worth $36,720,000 after acquiring an additional 550,000 shares in the last quarter. Rubric Capital Management LP raised its position in Zevra Therapeutics by 60.8% in the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company's stock worth $17,253,000 after acquiring an additional 740,584 shares in the last quarter. 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 worth $10,771,000 after acquiring an additional 649,495 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Zevra Therapeutics by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,242,386 shares of the company's stock worth $10,948,000 after acquiring an additional 9,275 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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