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

Key Points

• Zevra Therapeutics (NASDAQ:ZVRA) has been upgraded to a "Buy" rating by Wall Street Zen, marking a shift from a previous "hold" rating.
• Current analysts hold a consensus rating of "Moderate Buy" with an average price target of $24.00 for the stock.
• Increased insider buying is evident, with Director John B. Bode purchasing 5,000 shares, reflecting growing confidence among company insiders.

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

Other equities analysts also recently issued reports about the stock. HC Wainwright started coverage on shares of Zevra Therapeutics in a research note on Wednesday, July 2nd. They set a "buy" rating and a $26.00 price objective for the company. Cantor Fitzgerald upped their target price on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, August 13th. JMP Securities dropped their target price on shares of Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 13th. Finally, Zacks Research cut shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Zevra Therapeutics Stock Up 2.6%

Shares of Zevra Therapeutics stock traded up $0.25 during trading hours on Friday, reaching $9.77. 2,514,610 shares of the company's stock were exchanged, compared to its average volume of 2,084,572. The company has a 50 day moving average of $9.64 and a two-hundred day moving average of $8.93. Zevra Therapeutics has a fifty-two week low of $6.19 and a fifty-two week high of $13.16. The company has a current ratio of 7.85, a quick ratio of 7.81 and a debt-to-equity ratio of 0.52. The stock has a market cap of $548.39 million, a P/E ratio of -46.52 and a beta of 1.56.

Insiders Place Their Bets

In related news, Director John B. Bode purchased 5,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $9.16 per share, with a total value of $45,800.00. Following the acquisition, the director directly owned 45,000 shares in the company, valued at $412,200. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Woodline Partners LP raised its holdings in Zevra Therapeutics by 11.5% in the 1st 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. Adage Capital Partners GP L.L.C. increased its holdings in shares of Zevra Therapeutics by 15.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company's stock worth $36,720,000 after purchasing an additional 550,000 shares during the period. Rubric Capital Management LP increased its holdings in shares of Zevra Therapeutics by 60.8% during the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company's stock worth $17,253,000 after purchasing an additional 740,584 shares during the period. AIGH Capital Management LLC increased its holdings in shares of Zevra Therapeutics by 82.4% during the first quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company's stock worth $10,771,000 after purchasing an additional 649,495 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Zevra Therapeutics by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,242,386 shares of the company's stock worth $10,948,000 after purchasing an additional 9,275 shares during the period. 35.03% of the stock is owned by institutional investors.

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.

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