Zevra Therapeutics (NASDAQ:ZVRA) Receives “Buy” Rating from HC Wainwright

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

A number of other brokerages have also commented on ZVRA. Maxim Group lifted their price target on Zevra Therapeutics from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. UBS Group reaffirmed a “buy” rating on shares of Zevra Therapeutics in a research note on Wednesday, June 24th. Citizens Jmp raised their price objective on shares of Zevra Therapeutics from $25.00 to $28.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Zevra Therapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Canaccord Genuity Group reduced their target price on shares of Zevra Therapeutics from $29.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Zevra Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $27.14.

Zevra Therapeutics Stock Performance

Shares of NASDAQ:ZVRA opened at $12.13 on Thursday. The company has a fifty day moving average of $12.27 and a 200-day moving average of $10.73. The company has a market capitalization of $720.28 million, a PE ratio of 13.18 and a beta of 0.91. Zevra Therapeutics has a 52-week low of $7.16 and a 52-week high of $15.03.

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

Insider Activity at Zevra Therapeutics

In other news, Director Corey Michael Watton sold 12,300 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $11.25, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Zevra Therapeutics

Several institutional investors have recently added to or reduced their stakes in ZVRA. AIGH Capital Management LLC bought a new stake in shares of Zevra Therapeutics in the 1st quarter valued at $11,184,000. Marshall Wace LLP acquired a new stake in shares of Zevra Therapeutics during the third quarter worth $8,676,000. Rubric Capital Management LP raised its stake 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 buying an additional 740,584 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Zevra Therapeutics by 15.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company’s stock worth $36,720,000 after buying an additional 550,000 shares during the last quarter. Finally, Nantahala Capital Management LLC lifted its holdings 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 buying an additional 500,000 shares during the period. 35.03% of the stock is currently 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.