Zevra Therapeutics (NASDAQ:ZVRA) Rating Increased to Buy at Wall Street Zen

Key Points

• Zevra Therapeutics has been upgraded to a "buy" rating by Wall Street Zen, reflecting a more optimistic outlook from analysts after previously holding at "hold."
• The company's recent financial performance included a reported loss of ($0.06) earnings per share, significantly missing analyst expectations, despite achieving a revenue of $25.88 million for the quarter.
• Institutional investors have shown strong interest, with hedge funds increasing their stakes in Zevra Therapeutics, indicating potential confidence in the company's future performance.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Sunday.

ZVRA has been the topic of several other research reports. Weiss Ratings restated a "sell (d)" rating on shares of Zevra Therapeutics in a research report on Saturday, September 27th. Cantor Fitzgerald boosted their target price on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Citigroup reiterated an "outperform" rating on shares of Zevra Therapeutics in a research report on Wednesday, August 13th. Zacks Research cut Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Finally, HC Wainwright assumed coverage on Zevra Therapeutics in a research report on Wednesday, July 2nd. They set a "buy" rating and a $26.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Zevra Therapeutics Stock Up 1.8%

Zevra Therapeutics stock opened at $11.01 on Friday. Zevra Therapeutics has a fifty-two week low of $6.19 and a fifty-two week high of $13.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.81 and a current ratio of 7.85. The company has a market capitalization of $617.99 million, a P/E ratio of -52.43 and a beta of 1.49. The stock has a 50-day simple moving average of $9.40 and a 200-day simple moving average of $9.08.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($1.49). The company had revenue of $25.88 million during the quarter, compared to analyst estimates of $22.49 million. Zevra Therapeutics had a net margin of 4.33% and a negative return on equity of 112.40%. Equities research analysts expect that Zevra Therapeutics will post -1.95 earnings per share for the current year.

Insider Activity at Zevra Therapeutics

In related news, CEO Neil F. Mcfarlane sold 19,500 shares of the firm's stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $10.82, for a total value of $210,990.00. Following the completion of the transaction, the chief executive officer directly owned 222,016 shares of the company's stock, valued at $2,402,213.12. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Bode acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $9.16 per share, with a total value of $45,800.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at $412,200. This represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Zevra Therapeutics

Hedge funds have recently bought and sold shares of the company. Woodline Partners LP increased its stake in 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 purchasing an additional 476,032 shares in the last quarter. GAMMA Investing LLC increased its stake in Zevra Therapeutics by 20,564.1% in the 1st quarter. GAMMA Investing LLC now owns 8,059 shares of the company's stock valued at $60,000 after purchasing an additional 8,020 shares in the last quarter. Rhumbline Advisers increased its stake in Zevra Therapeutics by 9.6% in the 1st quarter. Rhumbline Advisers now owns 74,585 shares of the company's stock valued at $559,000 after purchasing an additional 6,532 shares in the last quarter. Readystate Asset Management LP increased its stake in Zevra Therapeutics by 924.6% in the 1st quarter. Readystate Asset Management LP now owns 683,032 shares of the company's stock valued at $5,116,000 after purchasing an additional 616,370 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. increased its position in Zevra Therapeutics by 6.9% during the first quarter. Retirement Planning Co of New England Inc. now owns 550,180 shares of the company's stock worth $4,121,000 after buying an additional 35,348 shares in the last quarter. 35.03% of the stock is owned by hedge funds and other 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.

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