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

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 investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

ZVRA has been the topic of a number of other reports. Zacks Research downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. Cantor Fitzgerald increased their price target on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. HC Wainwright started coverage on Zevra Therapeutics in a research report on Wednesday, July 2nd. They set a "buy" rating and a $26.00 price objective for the company. Finally, JMP Securities dropped their target price 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. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.71.

Zevra Therapeutics Stock Performance

Shares of NASDAQ ZVRA traded up $0.03 during trading on Friday, reaching $7.26. The stock had a trading volume of 2,369,929 shares, compared to its average volume of 799,809. The firm's 50 day moving average price is $10.36 and its two-hundred day moving average price is $8.92. Zevra Therapeutics has a one year low of $6.19 and a one year high of $13.16. The stock has a market cap of $407.54 million, a PE ratio of -34.57 and a beta of 1.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.81 and a current ratio of 7.85.

Insider Activity at Zevra Therapeutics

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

Hedge Funds Weigh In On Zevra Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZVRA. Tower Research Capital LLC TRC raised its stake in shares of Zevra Therapeutics by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock worth $88,000 after buying an additional 8,552 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. BNP Paribas Financial Markets raised its position in Zevra Therapeutics by 1,240.5% in the second quarter. BNP Paribas Financial Markets now owns 42,950 shares of the company's stock worth $378,000 after acquiring an additional 39,746 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Zevra Therapeutics by 150.4% during the 2nd quarter. Bank of America Corp DE now owns 223,852 shares of the company's stock valued at $1,972,000 after purchasing an additional 134,437 shares in the last quarter. Finally, 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. 35.03% of the stock is owned by institutional investors.

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.