Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA – Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $12.52, but opened at $9.21. Zevra Therapeutics shares last traded at $10.04, with a volume of 2,268,927 shares trading hands.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ZVRA. Canaccord Genuity Group increased their target price on Zevra Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of Zevra Therapeutics in a report on Tuesday, June 23rd. Weiss Ratings lowered Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Citizens Jmp lifted their price objective on Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of Zevra Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Zevra Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $29.29.
Check Out Our Latest Report on ZVRA
Zevra Therapeutics Stock Down 21.6%
Zevra Therapeutics (NASDAQ:ZVRA – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.06 by $0.12. The firm had revenue of $36.22 million during the quarter, compared to analysts’ expectations of $31.96 million. Zevra Therapeutics had a net margin of 101.58% and a return on equity of 51.49%. On average, analysts forecast that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current year.
Institutional Investors Weigh In On Zevra Therapeutics
Hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC grew its stake in shares of Zevra Therapeutics by 12.3% during the 4th quarter. ProShare Advisors LLC now owns 12,669 shares of the company’s stock valued at $114,000 after buying an additional 1,390 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Zevra Therapeutics by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,294 shares of the company’s stock worth $179,000 after buying an additional 1,750 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Zevra Therapeutics by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company’s stock worth $238,000 after buying an additional 1,812 shares during the period. Deutsche Bank AG boosted its holdings in Zevra Therapeutics by 4.4% in the fourth quarter. Deutsche Bank AG now owns 45,939 shares of the company’s stock valued at $412,000 after acquiring an additional 1,936 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Zevra Therapeutics by 10.5% in the fourth quarter. MetLife Investment Management LLC now owns 27,867 shares of the company’s stock valued at $250,000 after acquiring an additional 2,653 shares during the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.
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.
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