Simplify Asset Management Inc. Increases Stake in Zevra Therapeutics, Inc. $ZVRA

Simplify Asset Management Inc. raised its position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA) by 137.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 100,630 shares of the company’s stock after acquiring an additional 58,265 shares during the period. Simplify Asset Management Inc. owned approximately 0.17% of Zevra Therapeutics worth $938,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Zevra Therapeutics during the third quarter worth about $8,676,000. Rubric Capital Management LP raised its holdings in 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 in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Zevra Therapeutics by 15.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company’s stock valued at $36,720,000 after purchasing an additional 550,000 shares during the period. Nantahala Capital Management LLC lifted its position in Zevra Therapeutics by 34.0% in the third quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company’s stock valued at $18,753,000 after purchasing an additional 500,000 shares during the period. Finally, Algert Global LLC purchased a new stake in Zevra Therapeutics in the 3rd quarter valued at approximately $3,980,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Maxim Group boosted their target price on Zevra Therapeutics from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group raised their price target on Zevra Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Guggenheim increased their price objective on Zevra Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a report on Tuesday, June 9th. Finally, Citizens Jmp boosted their target price on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 9th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Zevra Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $29.29.

Zevra Therapeutics Price Performance

ZVRA opened at $13.98 on Friday. Zevra Therapeutics, Inc. has a 1-year low of $7.16 and a 1-year high of $14.58. The stock has a market cap of $826.50 million, a P/E ratio of 7.03 and a beta of 0.85. The stock’s 50 day simple moving average is $11.68 and its 200 day simple moving average is $10.00.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.12. The firm had revenue of $36.22 million during the quarter, compared to analysts’ expectations of $31.96 million. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%. Research analysts expect that Zevra Therapeutics, Inc. will post 0.56 EPS for the current fiscal year.

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.