Zevra Therapeutics’ (ZVRA) Buy Rating Reiterated at HC Wainwright

Zevra Therapeutics (NASDAQ:ZVRA)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $26.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 114.34% from the stock’s previous close.

Several other brokerages have also issued reports on ZVRA. Citizens Jmp increased their target price on shares of Zevra Therapeutics from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Zevra Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. UBS Group reiterated a “buy” rating on shares of Zevra Therapeutics in a report on Wednesday, June 24th. Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a research report on Thursday, August 6th. Finally, Guggenheim reduced their target price on Zevra Therapeutics from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Zevra Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

Zevra Therapeutics Stock Performance

Shares of ZVRA stock opened at $12.13 on Thursday. Zevra Therapeutics has a fifty-two week low of $7.16 and a fifty-two week high of $15.03. The stock has a 50 day simple moving average of $12.27 and a two-hundred day simple moving average of $10.73. The company has a market cap of $720.28 million, a P/E ratio of 13.18 and a beta of 0.91.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $39.66 million for the quarter, compared to analysts’ expectations of $33.88 million. Zevra Therapeutics had a return on equity of 54.54% and a net margin of 42.82%. On average, research analysts predict that Zevra Therapeutics will post 0.6 earnings per share for the current year.

Insider Transactions at Zevra Therapeutics

In other Zevra Therapeutics news, Director Corey Michael Watton sold 12,300 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $11.25, for a total transaction of $138,375.00. Following the completion of the sale, the director owned 1,800 shares in the company, valued at approximately $20,250. The trade was a 87.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its holdings in shares of Zevra Therapeutics by 15.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company’s stock worth $36,720,000 after acquiring an additional 550,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Zevra Therapeutics by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,083,362 shares of the company’s stock valued at $29,323,000 after purchasing an additional 130,676 shares during the last quarter. Nantahala Capital Management LLC increased its holdings in Zevra Therapeutics by 34.0% during the 3rd quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company’s stock worth $18,753,000 after purchasing an additional 500,000 shares in the last quarter. Rubric Capital Management LP increased its holdings in Zevra Therapeutics by 60.8% during the 2nd 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. Finally, State Street Corp raised its stake in shares of Zevra Therapeutics by 3.9% in the fourth quarter. State Street Corp now owns 1,482,956 shares of the company’s stock worth $13,287,000 after purchasing an additional 55,665 shares during the last quarter. 35.03% of the stock is owned by 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.