Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Down 4.8% - What's Next?

Key Points

• Zevra Therapeutics shares fell 4.8% in Thursday trading, hitting an intraday low of $13.99 and last trading around $14.04, below the prior close of $14.75.
• Despite the dip, analyst sentiment remains upbeat: several firms recently raised price targets, and the stock carries a Moderate Buy consensus with an average target price of about $29.29.
• The company recently posted better-than-expected earnings and revenue, reporting $0.18 EPS versus $0.06 expected and $36.22 million in revenue versus $31.96 million estimated.

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) shares were down 4.8% during mid-day trading on Thursday . The company traded as low as $13.99 and last traded at $14.0380. Approximately 662,631 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 1,336,110 shares. The stock had previously closed at $14.75.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Canaccord Genuity Group lifted their price target on Zevra Therapeutics from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Guggenheim upped their price objective on Zevra Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Cantor Fitzgerald raised their price objective on shares of Zevra Therapeutics from $24.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, June 8th. HC Wainwright reiterated a "buy" rating and set a $26.00 target price on shares of Zevra Therapeutics in a research report on Tuesday, June 23rd. Finally, Wall Street Zen lowered shares of Zevra Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Zevra Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $29.29.

Zevra Therapeutics Stock Performance

The company has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $10.15. The stock has a market capitalization of $826.72 million, a price-to-earnings ratio of 7.03 and a beta of 0.85.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.06 by $0.12. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%.The business had revenue of $36.22 million for the quarter, compared to analysts' expectations of $31.96 million. As a group, equities analysts predict that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zevra Therapeutics

A number of hedge funds have recently bought and sold shares of ZVRA. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Zevra Therapeutics in the 4th quarter worth about $53,000. Russell Investments Group Ltd. grew its stake in Zevra Therapeutics by 235.7% during the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company's stock worth $61,000 after purchasing an additional 4,475 shares during the period. Tower Research Capital LLC TRC grew its stake in Zevra Therapeutics by 617.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock worth $88,000 after purchasing an additional 8,552 shares during the period. Creative Planning bought a new stake in Zevra Therapeutics in the second quarter worth approximately $92,000. Finally, Qube Research & Technologies Ltd acquired a new position in Zevra Therapeutics in the second quarter valued at approximately $99,000. Institutional investors 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. The company is also developing Celiprolol, a prodrug product candidate that is under Phase 1/2 clinical trial for the treatment of vascular Ehlers Danlos syndrome.

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