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

by · The Markets Daily

Zevra Therapeutics (NASDAQ:ZVRA – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

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

Get Our Latest Report on Zevra Therapeutics

Zevra Therapeutics Price Performance

Shares of ZVRA stock opened at $7.75 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.85 and a quick ratio of 7.81. The firm’s 50-day moving average is $10.44 and its two-hundred day moving average is $8.92. Zevra Therapeutics has a 12 month low of $6.19 and a 12 month high of $13.16. The company has a market capitalization of $435.01 million, a PE ratio of -36.90 and a beta of 1.56.

Insider Buying and Selling

In other news, Director John B. Bode purchased 5,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $9.16 per share, for a total transaction of $45,800.00. Following the acquisition, the director directly owned 45,000 shares of the company’s stock, valued at approximately $412,200. The trade was a 12.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ZVRA. Rubric Capital Management LP boosted its holdings in shares of Zevra Therapeutics by 60.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company’s stock valued at $17,253,000 after buying an additional 740,584 shares in the last quarter. AIGH Capital Management LLC boosted its holdings in shares of Zevra Therapeutics by 82.4% in the 1st quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company’s stock valued at $10,771,000 after buying an additional 649,495 shares in the last quarter. Readystate Asset Management LP boosted its holdings in shares of Zevra Therapeutics by 924.6% in the 1st quarter. Readystate Asset Management LP now owns 683,032 shares of the company’s stock valued at $5,116,000 after buying an additional 616,370 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Zevra Therapeutics by 15.2% in 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 buying an additional 550,000 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in shares of Zevra Therapeutics by 11.5% in the 1st quarter. Woodline Partners LP now owns 4,615,625 shares of the company’s stock valued at $34,571,000 after buying an additional 476,032 shares in the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.

About Zevra Therapeutics

(Get Free Report)

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.

Further Reading