Zevra Therapeutics (NASDAQ:ZVRA) Shares Gap Down – Here’s What Happened

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) gapped down prior to trading on Friday. The stock had previously closed at $11.16, but opened at $10.64. Zevra Therapeutics shares last traded at $9.4880, with a volume of 505,232 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on ZVRA. William Blair raised Zevra Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd. Citizens Jmp lifted their price target on Zevra Therapeutics from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Guggenheim lowered their price objective on shares of Zevra Therapeutics from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Citigroup reiterated an “outperform” rating on shares of Zevra Therapeutics in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Zevra Therapeutics in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $27.14.

Zevra Therapeutics Price Performance

The firm has a market cap of $570.05 million, a price-to-earnings ratio of 8.00 and a beta of 1.01. The business’s 50-day moving average price is $11.06 and its two-hundred day moving average price is $10.83.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $37.76 million for the quarter, compared to analyst estimates of $37.08 million. Zevra Therapeutics had a net margin of 52.80% and a return on equity of 54.64%. As a group, sell-side analysts forecast that Zevra Therapeutics, Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Zevra Therapeutics

In other news, CEO Neil McFarlane sold 20,000 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $11.25, for a total transaction of $225,000.00. Following the sale, the chief executive officer owned 417,225 shares in the company, valued at $4,693,781.25. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zevra Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Integrity Alliance LLC. purchased a new position in shares of Zevra Therapeutics during the 3rd quarter worth about $10,292,000. Royce & Associates LP raised its stake in Zevra Therapeutics by 3.0% during the third quarter. Royce & Associates LP now owns 909,137 shares of the company’s stock worth $9,973,000 after purchasing an additional 26,479 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Zevra Therapeutics by 116.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 383,706 shares of the company’s stock worth $5,502,000 after purchasing an additional 206,543 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Zevra Therapeutics by 259.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 554,802 shares of the company’s stock valued at $5,168,000 after purchasing an additional 400,336 shares during the last quarter. Finally, Mystic Asset Management Inc. boosted its holdings in Zevra Therapeutics by 0.9% in the third quarter. Mystic Asset Management Inc. now owns 355,380 shares of the company’s stock valued at $3,899,000 after acquiring an additional 3,270 shares during the last quarter. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

Zevra Therapeutics Company Profile

Zevra Therapeutics, Inc. is a U.S.-based biopharmaceutical company focused on developing and commercializing treatments for rare diseases. Its work includes research and development as well as bringing therapies to patients with limited treatment options. The company’s products include MIPLYFFA (arimoclomol), approved in the United States for neurological manifestations of Niemann-Pick disease type C, and OLPRUVA (sodium phenylbutyrate), a treatment for certain urea cycle disorders. Zevra also advances investigational therapies for rare and complex conditions.