Zevra Therapeutics (NASDAQ:ZVRA) Trading Down 4.3% – Should You Sell?

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) dropped 4.3% during mid-day trading on Thursday . The company traded as low as $12.98 and last traded at $12.9250. Approximately 169,865 shares were traded during trading, a decline of 87% from the average daily volume of 1,284,429 shares. The stock had previously closed at $13.50.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZVRA. Canaccord Genuity Group lifted their target price on shares of Zevra Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating on shares of Zevra Therapeutics in a report on Tuesday. BTIG Research reiterated a “buy” rating and issued a $27.00 target price (up from $23.00) on shares of Zevra Therapeutics in a report on Tuesday. Guggenheim lifted their target price on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citizens Jmp lifted their target price on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.29.

Zevra Therapeutics Trading Down 2.5%

The company’s fifty day moving average is $10.69 and its two-hundred day moving average is $9.50. The stock has a market cap of $747.87 million, a price-to-earnings ratio of 6.36 and a beta of 0.91.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.12. The firm had revenue of $36.22 million during the quarter, compared to the consensus estimate of $31.96 million. Zevra Therapeutics had a net margin of 101.58% and a return on equity of 51.49%. Analysts predict that Zevra Therapeutics, Inc. will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Zevra Therapeutics

Several institutional investors have recently modified their holdings of ZVRA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Zevra Therapeutics by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company’s stock worth $238,000 after acquiring an additional 1,812 shares in the last quarter. Strs Ohio acquired a new position in shares of Zevra Therapeutics in the first quarter worth $125,000. Creative Planning acquired a new position in shares of Zevra Therapeutics in the second quarter worth $92,000. Rhumbline Advisers grew its stake in shares of Zevra Therapeutics by 11.6% in the second quarter. Rhumbline Advisers now owns 83,221 shares of the company’s stock worth $733,000 after acquiring an additional 8,636 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Zevra Therapeutics in the second quarter worth $255,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

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.