Zevra Therapeutics (NASDAQ:ZVRA) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Zevra Therapeutics was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, reflecting a cautionary stance on the stock.
• Despite the downgrade, the stock has a consensus rating of "Moderate Buy" with eight analysts issuing Buy ratings and a consensus price target of $23.71.
• Insider activity reveals that Director John B. Bode purchased 5,000 shares at $9.16 each, indicating confidence in the company's prospects.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald boosted their target price 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. Zacks Research cut shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. JMP Securities reduced their price objective on shares of Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 13th. HC Wainwright initiated coverage on shares of Zevra Therapeutics in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 price objective on the stock. Finally, Citigroup reissued an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.71.

Zevra Therapeutics Price Performance

Shares of NASDAQ ZVRA traded up $0.61 during midday trading on Friday, reaching $7.94. 2,305,540 shares of the company were exchanged, compared to its average volume of 1,317,959. The stock's 50-day moving average price is $10.11 and its 200-day moving average price is $8.90. The stock has a market cap of $445.67 million, a P/E ratio of -37.81 and a beta of 1.56. Zevra Therapeutics has a one year low of $6.19 and a one 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 Buying and Selling

In other news, Director John B. Bode purchased 5,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $9.16 per share, with a total value of $45,800.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Zevra Therapeutics

Institutional investors have recently made changes to their positions in the stock. Woodline Partners LP raised its holdings in shares of Zevra Therapeutics by 11.5% during the first 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. Price T Rowe Associates Inc. MD raised its holdings in shares of Zevra Therapeutics by 51.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,565 shares of the company's stock valued at $172,000 after purchasing an additional 6,966 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Zevra Therapeutics during the fourth quarter valued at about $53,000. Millennium Management LLC raised its holdings in shares of Zevra Therapeutics by 138.2% during the fourth quarter. Millennium Management LLC now owns 233,132 shares of the company's stock valued at $1,944,000 after purchasing an additional 135,246 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Zevra Therapeutics by 25.4% during the fourth quarter. Deutsche Bank AG now owns 50,906 shares of the company's stock valued at $425,000 after purchasing an additional 10,306 shares during the period. Institutional investors and hedge funds own 35.03% of the company's stock.

Zevra Therapeutics Company 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.