Zevra Therapeutics (NASDAQ:ZVRA) Trading Down 4.3% – Here’s What Happened

Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) were down 4.3% on Thursday . The company traded as low as $12.98 and last traded at $12.9250. Approximately 169,865 shares were traded during trading, a decline of 87% from the average daily volume of 1,284,429 shares. The stock had previously closed at $13.50.

Analyst Ratings Changes

A number of research analysts recently weighed in on ZVRA shares. Wall Street Zen downgraded Zevra Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Cantor Fitzgerald boosted their price objective on Zevra Therapeutics from $24.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday. HC Wainwright reissued a “buy” rating on shares of Zevra Therapeutics in a report on Tuesday. Canaccord Genuity Group boosted their price objective on Zevra Therapeutics from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Citizens Jmp boosted their price objective on Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.29.

Zevra Therapeutics Trading Down 2.1%

The business has a fifty day simple moving average of $10.55 and a 200 day simple moving average of $9.45. The stock has a market capitalization of $781.68 million, a P/E ratio of 6.62 and a beta of 0.91.

Zevra Therapeutics (NASDAQ:ZVRA) last released its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.12. The company had revenue of $36.22 million during the quarter, compared to analyst estimates of $31.96 million. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%. As a group, research analysts forecast that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Zevra Therapeutics

Several institutional investors have recently modified their holdings of ZVRA. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Zevra Therapeutics in the fourth quarter valued at approximately $53,000. Russell Investments Group Ltd. grew its holdings in shares of Zevra Therapeutics by 235.7% in the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company’s stock valued at $61,000 after acquiring an additional 4,475 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock valued at $88,000 after acquiring an additional 8,552 shares in the last quarter. Creative Planning bought a new position in shares of Zevra Therapeutics in the second quarter valued at approximately $92,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Zevra Therapeutics in the second quarter valued at approximately $99,000. 35.03% of the stock is owned by 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.