Zevra Therapeutics (NASDAQ:ZVRA) Shares Up 4.4% - Here's Why

Key Points

• Zevra Therapeutics' stock increased by 4.4% to $9.29, despite a significant decrease in trading volume, down 56% from the average session.
• Financial analysts generally maintain a positive outlook on Zevra, with a consensus price target of **$23.71** and multiple firms issuing buy ratings.
• The company posted quarterly earnings of **($0.06)** per share, missing estimates, but achieved revenues of **$25.88 million**, beating expectations set at $22.49 million.

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) was up 4.4% during mid-day trading on Friday . The company traded as high as $9.31 and last traded at $9.29. Approximately 311,221 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 710,732 shares. The stock had previously closed at $8.90.

Analyst Ratings Changes

A number of research analysts recently issued reports on ZVRA shares. HC Wainwright started coverage on shares of Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 price objective for the company. Cantor Fitzgerald increased their target price on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Zacks Research downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday. JMP Securities decreased their target price on shares of Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating for the company in a research report on Wednesday, August 13th. Finally, Wall Street Zen downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $23.71.

Zevra Therapeutics Trading Up 3.0%

The firm's 50 day simple moving average is $10.55 and its two-hundred day simple moving average is $8.78. The stock has a market capitalization of $520.93 million, a P/E ratio of -44.19 and a beta of 1.87. The company has a quick ratio of 7.81, a current ratio of 7.85 and a debt-to-equity ratio of 0.52.

Insider Activity at Zevra Therapeutics

In other news, Director John B. Bode bought 5,000 shares of Zevra Therapeutics stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $9.16 per share, for a total transaction of $45,800.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at approximately $412,200. This represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zevra Therapeutics

Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Zevra Therapeutics by 30.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,541 shares of the company's stock worth $49,000 after purchasing an additional 1,280 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Zevra Therapeutics in the 4th quarter worth $53,000. GAMMA Investing LLC lifted its holdings in shares of Zevra Therapeutics by 20,564.1% in 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 in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Zevra Therapeutics by 617.5% in the 2nd 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 in the last quarter. Finally, Creative Planning bought a new position in shares of Zevra Therapeutics in the 2nd quarter worth $92,000. 35.03% of the stock is currently owned by institutional investors.

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.