Zevra Therapeutics (NASDAQ:ZVRA) Sets New 1-Year High After Analyst Upgrade

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $11.84 and last traded at $11.56, with a volume of 1000847 shares trading hands. The stock had previously closed at $11.55.

A number of other brokerages have also recently commented on ZVRA. Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, May 14th. HC Wainwright began coverage on shares of Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 target price for the company. Finally, Cantor Fitzgerald raised their price target on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $23.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZVRA. Adage Capital Partners GP L.L.C. boosted its holdings in Zevra Therapeutics by 462.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company's stock valued at $30,441,000 after purchasing an additional 3,001,000 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in shares of Zevra Therapeutics in the fourth quarter valued at approximately $6,577,000. Readystate Asset Management LP grew its holdings in Zevra Therapeutics by 924.6% during the first quarter. Readystate Asset Management LP now owns 683,032 shares of the company's stock worth $5,116,000 after acquiring an additional 616,370 shares during the period. Woodline Partners LP raised its position in Zevra Therapeutics by 11.5% in the first quarter. Woodline Partners LP now owns 4,615,625 shares of the company's stock worth $34,571,000 after acquiring an additional 476,032 shares in the last quarter. Finally, Velan Capital Investment Management LP lifted its holdings in Zevra Therapeutics by 121.7% in the first quarter. Velan Capital Investment Management LP now owns 665,000 shares of the company's stock valued at $4,981,000 after acquiring an additional 365,000 shares during the period. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Zevra Therapeutics Stock Up 4.2%

The company has a market capitalization of $685.14 million, a PE ratio of -6.59 and a beta of 1.97. The firm's 50-day simple moving average is $9.06 and its 200 day simple moving average is $8.20. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.93 and a current ratio of 3.02.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.15. Zevra Therapeutics had a negative net margin of 226.78% and a negative return on equity of 201.05%. The firm had revenue of $20.40 million during the quarter, compared to analysts' expectations of $16.96 million. During the same quarter last year, the business earned ($0.40) earnings per share. As a group, equities research analysts forecast that Zevra Therapeutics, Inc. will post -1.95 earnings per share for the current year.

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.