Zevra Therapeutics (NASDAQ:ZVRA) Shares Gap Up – Time to Buy?

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares gapped up before the market opened on Monday . The stock had previously closed at $9.98, but opened at $10.54. Zevra Therapeutics shares last traded at $10.2710, with a volume of 695,668 shares changing hands.

Analyst Upgrades and Downgrades

ZVRA has been the topic of several research analyst reports. Guggenheim set a $23.00 price objective on shares of Zevra Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Wall Street Zen cut shares of Zevra Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised shares of Zevra Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. HC Wainwright set a $26.00 price objective on shares of Zevra Therapeutics in a report on Tuesday, December 30th. Finally, BTIG Research initiated coverage on shares of Zevra Therapeutics in a research report on Monday. They issued a “buy” rating and a $23.00 target price for the company. Seven equities 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.com, Zevra Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Zevra Therapeutics Stock Performance

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 company has a 50 day simple moving average of $9.00 and a 200-day simple moving average of $9.10. The firm has a market cap of $581.25 million, a PE ratio of 7.44 and a beta of 0.91.

Insider Buying and Selling at Zevra Therapeutics

In other Zevra Therapeutics news, SVP Timothy J. Sangiovanni sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $9.18, for a total transaction of $27,540.00. Following the completion of the sale, the senior vice president directly owned 29,590 shares in the company, valued at $271,636.20. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joshua Schafer sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $9.19, for a total value of $96,495.00. Following the transaction, the insider directly owned 62,278 shares in the company, valued at $572,334.82. This trade represents a 14.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 114,158 shares of company stock worth $1,062,878 in the last quarter. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zevra Therapeutics

Institutional investors have recently bought and sold shares of the stock. CWM LLC increased its stake in Zevra Therapeutics by 399.5% in the 3rd quarter. CWM LLC now owns 2,872 shares of the company’s stock worth $27,000 after purchasing an additional 2,297 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of 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 last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Zevra Therapeutics in the fourth quarter worth $53,000. Russell Investments Group Ltd. raised its holdings in Zevra Therapeutics by 235.7% during the 3rd 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 last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Zevra Therapeutics by 617.5% during the 2nd 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.

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. 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.