Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Up 9.5% Following Analyst Upgrade

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares traded up 9.5% on Monday after Cantor Fitzgerald raised their price target on the stock from $24.00 to $34.00. Cantor Fitzgerald currently has an overweight rating on the stock. Zevra Therapeutics traded as high as $11.58 and last traded at $11.62. 1,139,051 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 1,221,209 shares. The stock had previously closed at $10.61.

A number of other analysts have also recently commented on the company. BTIG Research started coverage on Zevra Therapeutics in a research report on Monday, March 16th. They set a “buy” rating and a $23.00 target price on the stock. Wall Street Zen cut Zevra Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. Guggenheim lifted their price target on Zevra Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings cut Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZVRA. ProShare Advisors LLC boosted its position in shares of Zevra Therapeutics by 12.3% in the 4th quarter. ProShare Advisors LLC now owns 12,669 shares of the company’s stock worth $114,000 after buying an additional 1,390 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Zevra Therapeutics by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,294 shares of the company’s stock valued at $179,000 after acquiring an additional 1,750 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Zevra Therapeutics by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company’s stock worth $238,000 after acquiring an additional 1,812 shares during the last quarter. Deutsche Bank AG raised its position in Zevra Therapeutics by 4.4% during the fourth quarter. Deutsche Bank AG now owns 45,939 shares of the company’s stock worth $412,000 after acquiring an additional 1,936 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 2,653 shares in the last quarter. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Zevra Therapeutics Price Performance

The firm’s 50-day moving average price is $10.32 and its 200 day moving average price is $9.37. The firm has a market capitalization of $711.15 million, a price-to-earnings ratio of 6.04 and a beta of 0.91.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (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 the consensus estimate of $31.96 million. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%. On average, analysts predict that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current fiscal year.

About Zevra Therapeutics

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.