Zevra Therapeutics (NASDAQ:ZVRA) Earns Buy Rating from Analysts at BTIG Research

Analysts at BTIG Research assumed coverage on shares of Zevra Therapeutics (NASDAQ:ZVRA) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $23.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 130.46% from the company’s previous close.

A number of other brokerages have also recently issued reports on ZVRA. HC Wainwright set a $26.00 price objective on Zevra Therapeutics in a research note on Tuesday, December 30th. Weiss Ratings upgraded Zevra Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Wall Street Zen lowered Zevra Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Guggenheim set a $23.00 target price on shares of Zevra Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Zevra Therapeutics Stock Down 2.1%

Shares of ZVRA opened at $9.98 on Monday. Zevra Therapeutics has a 1 year low of $6.19 and a 1 year high of $13.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.68 and a quick ratio of 5.63. The stock has a 50 day simple moving average of $8.93 and a two-hundred day simple moving average of $9.09. The firm has a market cap of $585.93 million, a P/E ratio of 7.50 and a beta of 0.91.

Insiders Place Their Bets

In related news, CEO Neil F. Mcfarlane sold 91,000 shares of Zevra Therapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $9.38, for a total value of $853,580.00. Following the sale, the chief executive officer owned 364,350 shares in the company, valued at $3,417,603. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joshua Schafer sold 10,500 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $9.19, for a total transaction of $96,495.00. Following the transaction, the insider directly owned 62,278 shares in the company, valued at approximately $572,334.82. The trade was a 14.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 114,158 shares of company stock worth $1,062,878. Insiders own 2.40% of the company’s stock.

Institutional Trading of Zevra Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its stake in shares of Zevra Therapeutics by 399.5% in the 3rd quarter. CWM LLC now owns 2,872 shares of the company’s stock valued at $27,000 after purchasing an additional 2,297 shares during the period. Ameritas Investment Partners Inc. grew its stake in Zevra Therapeutics by 30.0% in the second 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 during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Zevra Therapeutics in the fourth quarter worth $53,000. Russell Investments Group Ltd. lifted its position in Zevra Therapeutics by 235.7% during the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company’s stock valued at $61,000 after buying an additional 4,475 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position 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 valued at $88,000 after buying an additional 8,552 shares during the period. 35.03% of the stock is currently owned by hedge funds and other 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. 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.