Zevra Therapeutics (NASDAQ:ZVRA) Sees Strong Trading Volume - Still a Buy?

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 879,147 shares traded hands during trading, an increase of 70% from the previous session's volume of 516,074 shares.The stock last traded at $10.76 and had previously closed at $9.74.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Zevra Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group boosted their target price on shares of Zevra Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, March 13th. Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price objective on shares of Zevra Therapeutics in a report on Wednesday, May 14th. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, May 14th. Finally, HC Wainwright initiated coverage on shares of Zevra Therapeutics in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $23.14.

Zevra Therapeutics Stock Up 15.7%

The company has a debt-to-equity ratio of 1.46, a current ratio of 3.02 and a quick ratio of 2.93. The business has a 50-day moving average of $8.71 and a 200-day moving average of $8.11.

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

Hedge Funds Weigh In On Zevra Therapeutics

Several large investors have recently modified their holdings of ZVRA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Zevra Therapeutics by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company's stock valued at $238,000 after buying an additional 1,812 shares during the period. Invesco Ltd. increased its stake in Zevra Therapeutics by 19.6% during the fourth quarter. Invesco Ltd. now owns 18,384 shares of the company's stock worth $153,000 after purchasing an additional 3,007 shares during the period. Corebridge Financial Inc. increased its stake in Zevra Therapeutics by 16.9% during the fourth quarter. Corebridge Financial Inc. now owns 26,294 shares of the company's stock worth $219,000 after purchasing an additional 3,801 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Zevra Therapeutics by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 153,331 shares of the company's stock worth $1,148,000 after purchasing an additional 3,827 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of Zevra Therapeutics by 36.1% during the fourth quarter. Squarepoint Ops LLC now owns 16,534 shares of the company's stock worth $138,000 after buying an additional 4,384 shares during the period. Institutional investors and hedge funds 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.