Zevra Therapeutics (NASDAQ:ZVRA) Upgraded to Buy at Wall Street Zen

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Thursday.

Other analysts also recently issued reports about the company. Canaccord Genuity Group boosted their price target on Zevra Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, March 13th. Guggenheim upped their price target on shares of Zevra Therapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, March 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $25.00 price objective on shares of Zevra Therapeutics in a research report on Wednesday, May 14th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Zevra Therapeutics in a report on Thursday, March 13th. Finally, Citigroup reissued an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, May 14th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zevra Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $22.29.

Zevra Therapeutics Stock Performance

NASDAQ ZVRA traded down $0.12 on Thursday, hitting $8.55. 111,127 shares of the stock were exchanged, compared to its average volume of 639,229. The company has a market capitalization of $467.24 million, a PE ratio of -4.33 and a beta of 1.87. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.88 and a quick ratio of 2.88. The business's fifty day moving average is $7.58 and its 200 day moving average is $8.09. Zevra Therapeutics has a 52 week low of $4.20 and a 52 week high of $9.76.

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 (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.15. Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. The business had revenue of $20.40 million during the quarter, compared to the consensus estimate of $16.96 million. During the same quarter last year, the firm posted ($0.40) EPS. Research analysts anticipate that Zevra Therapeutics will post -1.95 EPS for the current fiscal year.

Insider Activity

In other news, Director John B. Bode purchased 10,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average price of $7.96 per share, for a total transaction of $79,600.00. Following the transaction, the director now owns 40,000 shares of the company's stock, valued at approximately $318,400. This trade represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Zevra Therapeutics

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Zevra Therapeutics by 51.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,565 shares of the company's stock worth $172,000 after acquiring an additional 6,966 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Zevra Therapeutics by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 27,490 shares of the company's stock worth $229,000 after purchasing an additional 9,225 shares during the period. Raymond James Financial Inc. acquired a new position in Zevra Therapeutics in the fourth quarter valued at approximately $224,000. Wells Fargo & Company MN boosted its holdings in shares of Zevra Therapeutics by 65.4% during the 4th quarter. Wells Fargo & Company MN now owns 29,701 shares of the company's stock worth $248,000 after buying an additional 11,744 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Zevra Therapeutics by 18.4% during the 4th quarter. Rhumbline Advisers now owns 68,053 shares of the company's stock worth $568,000 after buying an additional 10,573 shares during the period. 35.03% of the stock is currently owned by institutional investors and hedge funds.

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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