Zevra Therapeutics (NASDAQ:ZVRA) Given “Buy” Rating at BTIG Research

Zevra Therapeutics (NASDAQ:ZVRA)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $27.00 price objective on the stock, up from their prior price objective of $23.00. BTIG Research’s price target would indicate a potential upside of 101.64% from the company’s previous close.

A number of other research firms have also recently commented on ZVRA. Guggenheim raised their target price on shares of Zevra Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Citizens Jmp increased their price objective on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday. Citigroup reaffirmed an “outperform” rating on shares of Zevra Therapeutics in a report on Tuesday. Canaccord Genuity Group increased their price objective on shares of Zevra Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wall Street Zen lowered shares of Zevra Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Zevra Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Zevra Therapeutics Stock Up 10.8%

ZVRA traded up $1.30 during midday trading on Tuesday, hitting $13.39. 3,385,059 shares of the company traded hands, compared to its average volume of 1,262,932. The firm has a market capitalization of $791.62 million, a PE ratio of 6.68 and a beta of 0.91. The company’s 50-day moving average is $10.37 and its 200 day moving average is $9.39. Zevra Therapeutics has a 52 week low of $7.16 and a 52 week high of $13.80.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12. Zevra Therapeutics had a net margin of 101.58% and a return on equity of 51.49%. The company had revenue of $36.22 million for the quarter, compared to the consensus estimate of $31.96 million. On average, sell-side analysts predict that Zevra Therapeutics will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. grew its holdings in shares of Zevra Therapeutics by 15.2% in the second 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 purchasing an additional 550,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Zevra Therapeutics by 4.4% during the third quarter. Vanguard Group Inc. now owns 3,083,362 shares of the company’s stock worth $29,323,000 after buying an additional 130,676 shares during the period. Nantahala Capital Management LLC boosted its stake in Zevra Therapeutics by 34.0% during the third quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company’s stock worth $18,753,000 after buying an additional 500,000 shares during the period. Rubric Capital Management LP boosted its stake in Zevra Therapeutics by 60.8% during the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company’s stock worth $17,253,000 after buying an additional 740,584 shares during the period. Finally, State Street Corp boosted its stake in Zevra Therapeutics by 3.9% during the fourth quarter. State Street Corp now owns 1,482,956 shares of the company’s stock worth $13,287,000 after buying an additional 55,665 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. 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.