Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Sees Large Drop in Short Interest

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,940,000 shares, a decrease of 21.2% from the October 15th total of 5,000,000 shares. Approximately 7.5% of the shares of the company are sold short. Based on an average trading volume of 851,000 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Zevra Therapeutics in a research note on Friday, October 11th. Roth Mkm upped their price objective on shares of Zevra Therapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Guggenheim started coverage on shares of Zevra Therapeutics in a research note on Monday, October 7th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, JMP Securities began coverage on shares of Zevra Therapeutics in a research note on Tuesday, September 24th. They set an “outperform” rating and a $17.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.00.

Institutional Investors Weigh In On Zevra Therapeutics

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in shares of Zevra Therapeutics by 594.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock valued at $48,000 after buying an additional 5,940 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Zevra Therapeutics in the first quarter worth $64,000. Hunter Associates Investment Management LLC purchased a new position in shares of Zevra Therapeutics in the third quarter valued at $92,000. XTX Topco Ltd bought a new stake in shares of Zevra Therapeutics during the 3rd quarter valued at $94,000. Finally, Intech Investment Management LLC purchased a new stake in Zevra Therapeutics during the 3rd quarter worth about $95,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Zevra Therapeutics Stock Down 4.5 %

Shares of NASDAQ:ZVRA opened at $8.62 on Friday. The firm has a market cap of $453.57 million, a P/E ratio of -4.38 and a beta of 1.93. Zevra Therapeutics has a 52-week low of $4.18 and a 52-week high of $9.21. The business’s 50 day simple moving average is $8.03 and its two-hundred day simple moving average is $6.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.25). Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 177.96%. The company had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.04 million. During the same quarter last year, the business posted ($0.40) earnings per share. As a group, research analysts forecast that Zevra Therapeutics will post -1.63 EPS 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.