Zevra Therapeutics (NASDAQ:ZVRA) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Zevra Therapeutics (NASDAQ:ZVRA) from a buy rating to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts have also recently commented on the company. Zacks Research cut Zevra Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Cantor Fitzgerald boosted their price target on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. JMP Securities cut their price objective on Zevra Therapeutics from $19.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 13th. Citigroup reiterated an “outperform” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. Finally, HC Wainwright began coverage on Zevra Therapeutics in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $26.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Zevra Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $23.71.

Zevra Therapeutics Stock Performance

Shares of NASDAQ:ZVRA opened at $7.23 on Friday. The stock has a market capitalization of $405.82 million, a P/E ratio of -34.43 and a beta of 1.56. Zevra Therapeutics has a 1-year low of $6.19 and a 1-year high of $13.16. The company has a current ratio of 7.85, a quick ratio of 7.81 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $10.36 and a two-hundred day moving average price of $8.92.

Insiders Place Their Bets

In other Zevra Therapeutics news, Director John B. Bode acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $9.16 per share, for a total transaction of $45,800.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $412,200. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Woodline Partners LP raised its position in Zevra Therapeutics by 11.5% in the first quarter. Woodline Partners LP now owns 4,615,625 shares of the company’s stock valued at $34,571,000 after purchasing an additional 476,032 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Zevra Therapeutics by 51.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,565 shares of the company’s stock worth $172,000 after purchasing an additional 6,966 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Zevra Therapeutics during the fourth quarter worth about $53,000. Millennium Management LLC grew its position in shares of Zevra Therapeutics by 138.2% in the fourth quarter. Millennium Management LLC now owns 233,132 shares of the company’s stock valued at $1,944,000 after purchasing an additional 135,246 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Zevra Therapeutics by 25.4% during the fourth quarter. Deutsche Bank AG now owns 50,906 shares of the company’s stock worth $425,000 after purchasing an additional 10,306 shares during the period. 35.03% of the stock is owned by hedge funds and other 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.