Zevra Therapeutics (NASDAQ:ZVRA) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Zevra Therapeutics experienced an unusual spike in trading volume, with 1,466,412 shares changing hands, representing a 57% increase over the previous session.
• Analyst ratings for Zevra Therapeutics are mixed, with Cantor Fitzgerald raising its price target from $25.00 to $29.00, while Zacks downgraded the stock from a "strong-buy" to a "hold" rating.
• Insider buying activity was noted, as Director John B. Bode acquired 5,000 shares at an average price of $9.16, indicating growing confidence in the company.

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) shares saw an uptick in trading volume on Monday . 1,466,412 shares were traded during trading, an increase of 57% from the previous session's volume of 932,207 shares.The stock last traded at $10.41 and had previously closed at $9.75.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Cantor Fitzgerald boosted their price target on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Weiss Ratings reissued a "sell (d)" rating on shares of Zevra Therapeutics in a research report on Saturday, September 27th. Zacks Research downgraded Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. JMP Securities dropped their price objective on 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. Finally, HC Wainwright started coverage on Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 price objective for the company. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Zevra Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Zevra Therapeutics Trading Up 9.2%

The business's 50 day moving average price is $9.44 and its two-hundred day moving average price is $8.99. The company has a market capitalization of $597.78 million, a price-to-earnings ratio of -50.71 and a beta of 1.49. The company has a current ratio of 7.85, a quick ratio of 7.81 and a debt-to-equity ratio of 0.52.

Insiders Place Their Bets

In other Zevra Therapeutics news, Director John B. Bode acquired 5,000 shares of Zevra Therapeutics stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price 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 trade represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Institutional Trading of Zevra Therapeutics

Several large investors have recently modified their holdings of the stock. Woodline Partners LP grew its stake in Zevra Therapeutics by 11.5% in the first quarter. Woodline Partners LP now owns 4,615,625 shares of the company's stock valued at $34,571,000 after acquiring an additional 476,032 shares during the period. Bank of America Corp DE grew its holdings in shares of Zevra Therapeutics by 222.4% in the fourth quarter. Bank of America Corp DE now owns 98,245 shares of the company's stock valued at $819,000 after acquiring an additional 67,772 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Zevra Therapeutics by 20,564.1% during the 1st quarter. GAMMA Investing LLC now owns 8,059 shares of the company's stock worth $60,000 after purchasing an additional 8,020 shares during the period. Rhumbline Advisers boosted its stake in Zevra Therapeutics by 9.6% in the first quarter. Rhumbline Advisers now owns 74,585 shares of the company's stock valued at $559,000 after acquiring an additional 6,532 shares during the last quarter. Finally, 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 valued at $5,116,000 after purchasing an additional 616,370 shares during the period. Institutional investors and hedge funds own 35.03% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.