Zevra Therapeutics (NASDAQ:ZVRA) Director Corey Michael Watton Sells 12,300 Shares of Stock

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Director Corey Michael Watton sold 12,300 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $20,250. This represents a 87.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Zevra Therapeutics Stock Performance

NASDAQ ZVRA opened at $11.44 on Thursday. The firm’s 50 day moving average price is $12.34 and its 200-day moving average price is $10.64. Zevra Therapeutics, Inc. has a 52-week low of $7.16 and a 52-week high of $15.03. The company has a market cap of $679.31 million, a PE ratio of 12.43 and a beta of 0.91.

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

Hedge Funds Weigh In On Zevra Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its stake in Zevra Therapeutics by 15.2% during the 2nd 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 last quarter. Vanguard Group Inc. increased its holdings in shares of Zevra Therapeutics by 4.4% in the third 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 period. Nantahala Capital Management LLC raised its stake in shares of Zevra Therapeutics by 34.0% in the third 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 during the last quarter. Rubric Capital Management LP raised its stake in shares of Zevra Therapeutics by 60.8% in 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 during the last quarter. Finally, State Street Corp lifted its holdings in shares of Zevra Therapeutics by 3.9% during 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 period. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ZVRA shares. BTIG Research decreased their price objective on Zevra Therapeutics from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Canaccord Genuity Group cut their target price on Zevra Therapeutics from $29.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of Zevra Therapeutics in a report on Tuesday, June 23rd. Cantor Fitzgerald increased their price target on shares of Zevra Therapeutics from $24.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Finally, Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a research report on Thursday, August 6th. Nine 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

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.