Zevra Therapeutics (NASDAQ:ZVRA) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Zevra Therapeutics experienced a significant increase in trading volume, with approximately 4.34 million shares traded, representing a 409% rise from the previous session.
• Analysts have set a consensus target price of $24.00 for Zevra Therapeutics, with ratings ranging from "buy" to "hold" from various firms, including JMP Securities and Citigroup.
• The stock price increased by 11.5%, closing at $9.07, and the company has a market capitalization of $507.75 million.

Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 4,342,442 shares changed hands during trading, an increase of 409% from the previous session's volume of 853,712 shares.The stock last traded at $9.07 and had previously closed at $8.11.

Analysts Set New Price Targets

ZVRA has been the subject of a number of research analyst reports. JMP Securities decreased their price target on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 13th. HC Wainwright started coverage on Zevra Therapeutics in a research note on Wednesday, July 2nd. They set a "buy" rating and a $26.00 price target for the company. Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. Zacks Research lowered shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Cantor Fitzgerald upped their price objective 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. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Zevra Therapeutics Stock Up 11.5%

The company has a quick ratio of 7.81, a current ratio of 7.85 and a debt-to-equity ratio of 0.52. The stock has a market cap of $507.75 million, a PE ratio of -43.08 and a beta of 1.56. The business has a 50 day moving average price of $9.82 and a 200 day moving average price of $8.91.

Insider Transactions at Zevra Therapeutics

In other Zevra Therapeutics news, Director John B. Bode purchased 5,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $9.16 per share, for a total transaction 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. This trade represents a 12.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate 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 business. Tower Research Capital LLC TRC lifted its position in shares of Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock valued at $88,000 after acquiring an additional 8,552 shares in the last quarter. Rubric Capital Management LP lifted its position in shares of Zevra Therapeutics by 60.8% in the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company's stock valued at $17,253,000 after acquiring an additional 740,584 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Zevra Therapeutics by 1,240.5% in the second quarter. BNP Paribas Financial Markets now owns 42,950 shares of the company's stock valued at $378,000 after acquiring an additional 39,746 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Zevra Therapeutics by 150.4% in the second quarter. Bank of America Corp DE now owns 223,852 shares of the company's stock valued at $1,972,000 after acquiring an additional 134,437 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of 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 valued at $36,720,000 after purchasing an additional 550,000 shares during the last quarter. Hedge funds and other institutional investors 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.

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